Epsilon is a conventional oil development located in shallow water in Greece and is operated by Energean. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Epsilon was discovered in 2001, lies in block Ioannina and Prinos Development Area, with water depth of around 98 feet. Buy the profile here.

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The project is currently in construction stage and is expected to start commercial production in 2024. Final investment decision (FID) of the project was approved in 2017. The Epsilon conventional oil development will involve the drilling of approximately three wells and includes wellhead platform.

Field participation details

The field is owned by Energean.

Production from Epsilon

Production from the Epsilon conventional oil development project is expected to begin in 2019 and is forecast to peak in 2022, Based on economic assumptions, the production will continue until the field reaches its economic limit in 2058.

Contractors involved in the Epsilon conventional oil field

Some of the key contractors involved in the Epsilon project as follows.

Main EPC: Grup Servicii Petroliere

Other Contractors: Schlumberger, Dolphin Group, BMT Group, BMT Argoss and Shandong Offshore Equipment

About Energean

Energean PLC (Energean) 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 and Tanin blocks in Israel; Prinos, Ioannina, South Kavala and Katakolo in Greece; Abu Qir field in Egypt and Izabela in Croatia. Energean’s gas platform includes an onshore plant with storage, offshore loading, and power generation facilities. The company operates its offices in Greece, Italy, Cyprus, Croatia, Israel, the UK, Montenegro and Egypt. Energean is headquartered in London, England, the UK.

For more details on the Epsilon Conventional Oil Field, buy the profile here.

This content was updated on 7 February 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.

This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.