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April 28, 2022

Katakolo Conventional Oil Field, Greece

By Carmen

Katakolo is a conventional oil development located in shallow water in Greece and is operated by Energean. Discovered in 1981, Katakolo lies in block Katakolon, with water depth of around 984 feet.

The project is currently in approval stage and is expected to start commercial production in 2022. The development cost is expected to be $65 m. The Katakolo conventional oil development will involve the drilling of approximately four wells.

Field participation details

The field is owned by Energean.


Production from Katakolo

Production from the Katakolo conventional oil development project is expected to begin in 2022 and is forecast to peak in 2026, to approximately 3,000 bpd of crude oil and condensate. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2044.


Remaining recoverable reserves

The field is expected to recover 11.1 Mmboe, comprised of 11.1 Mmbbl of crude oil & condensate.


About Energean

Energean PLC (Energean), formerly Energean Oil & Gas Plc, is an oil and gas company that produces crude oil and natural gas. The company’s activities include production, development and exploration of oil and natural gas properties. It holds interest in Karish, Tanin blocks in Israel; Epsilon, South Kavala, and Katakolo in Greece. Energean’s gas platform includes onshore plant with storage, offshore loading, and power generation facilities. The company operates its offices in Greece, Cyprus, Israel, the UK, Montenegro and Egypt. Energean is headquartered in London, Greater London, the UK.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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