Prinos oil field explained

Prinos
Country:	Greece
Region:	Aegean Sea
Offonshore:	offshore
Operator:	Energean Oil & Gas
Discovery:	1971
Start Development:	1971
Start Production:	1975
Oil Production Bbl/D:	1900
Est Oil Bbl:	90
Est Oil T:	12

The Prinos oil field is an oil field located in the northern Aegean Sea, between the island of Thasos and city of Kavala on the mainland. It was discovered in 1971 by the Oceanic Exploration company of Denver.^{[1] [2]} The field was developed by Energean Oil & Gas. It began production in 1974.^[3] It was named after the village of Prinos on Thasos, the nearest inhabited place.

The total proven reserves of the Prinos oil field were estimated at 90 million barrels (12×10⁶tonnes), and production is centered on 1900oilbbl/d.^[4] However, by 2020 it has delivered some 120 million barrels of crude, exceeding the original estimate.^[5]

The output of the field was loss-making for the company and in 2020, the Energean Oil & Gas asked for the government support.^[6]

See also

• Energy in Greece

References

40.8°N 24.49°W

Notes and References

1. Book: Greece Mineral, Mining Sector Investment and Business Guide. 71. 1. International Business Publications. 2016. 9781433020582.
2. Web site: Briefs on Energy. The New York Times. February 15, 1974. September 17, 2020.
3. Web site: Briefs on Energy. The New York Times. February 15, 1974. September 17, 2020.
4. Web site: Prinos oil field. 2010. datapages.com. 2011-01-03.
5. Web site: Lack of state support hinders Greece's oil exploration. Costis Stambolis. Financial Mirror. March 16, 2020. September 17, 2020.
6. Web site: Lufthansa model for Prinos oil. Chryssa Liaggou. Kathimerini. May 31, 2020. September 17, 2020.