Pending 2018 approval of its environmental and social impact assessment, Energean Oil & Gas will take a final investment decision on its Katakolon field development with drilling and production commencing in 2019 and 2020, respectively.
The company’s field development plan (FDP) has been approved by the Hellenic Hydrocarbons Resources Management Co., the Greek government agency responsible for the country’s hydrocarbon development.
Katakolon is the third oil and gas field to be developed by Energean in Greece and will mark the first-ever hydrocarbon production in western Greece (OGJ Online, Aug. 7, 2017).
The $50-million FDP, submitted in February, will target 11 MMboe of recoverable oil that was discovered by state-owned Public Petroleum Corp. in the early 1980s. Katakolon field lies 3.5 km southwest of Katakolon peninsula off western Peloponessus in 200-300 m of water with production from Eocene-Cretaceous carbonates at 2,300-2,600 m.
The 545-sq-km block is delimited onshore at 60 sq km for use in drilling and production. Energean’s FDP will deploy extended reach drilling from onshore down to 1,200 m and then horizontally for 3,500 m. The FDP includes investments in roads, storage facilities, bouys, and onshore dehydration.
Energean plans to develop Katakolon alongside its two other current development projects, the Prinos oil field, which is part of the Prinos Concession located offshore northeast Greece, and the 2.4 tcf (2C) Karish and Tanin gas fields, offshore Israel (OGJ Online, Aug. 30, 2017).
Contact Tayvis Dunnahoe at [email protected].
