Prinos

The Prinos Oil Field is the main structure in the Prinos-Kavala basin, located offshore in the Gulf of Kavala. It covers an area of 6 km2 and is about 8 km north-west of the island of Thassos and 18 km south of the mainland of Northern Greece, in a water 31 metres deep.

  • Production
  • Development
  • Exploration
01_prinos_production_resize.png

Prinos 2P reserves have been independently audited at 17.8 mmbbls of oil and 2.9 Bcf of gas, while 2C contingent resources are 15.6 mmbbls of oil and 4.9 Bcf of gas.

 

Currently, fourteen wells are producing and four are injecting sea water.

 

Prinos’ oil production averaged 2,825 barrels daily in 2018.

 

Cumulative production stands at 112 mmbbls.

The field

The Prinos Field is formed by a low relief faulted anticline, with oil trapped in the Prinos Group reservoir of Miocene Age at a depth of between 2,490 and 2,770 metres TVDSS. The reservoir produces under-saturated sour crude oil with an API gravity of between 27 and 30 degrees.

Prinos contains up to 60 per cent hydrogen sulphide gas. The onshore Sigma plant features facilities to convert it to sulphur. The sulphur is then sold to a local fertilizer plant. 

Exploration and Production History

Following exploration of the Prinos Basin in the 1970s, the Prinos Field was discovered in 1974 through the drilling of Prinos-1, the first exploration well drilled in the area. It was developed during the late 1970s and brought into production in 1981.

The initial development of the field took place from 1979 until 1981, following the drilling of the delineation wells which confirmed the extent of the Prinos reservoir,. Facilities were installed offshore and onshore to allow 30,000 bopd to be produced along with associated gas. Two drilling jackets were installed above the Prinos Field and bridge linked to an unmanned offshore processing platform. Via a pipeline, these offshore facilities were linked by pipeline to the shore, where a complex gas and oil processing plant was constructed along with oil storage tanks (500,000 bbl capacity) and offshore loading terminal.

Crude oil production commenced in early 1981, at initial rates of 8,000 to 10,000 bopd, with production peaking at more than 27,000 bopd in 1985.

Prinos 2P reserves were initially estimated at 60 million oil bbls, but the field has already produced more than 110 million bbls since 1981.

02_prinos_development1.png

Prinos 2P reserves stand at 17.8 mmbbls.

 

The biggest development campaign in Prinos history is in progress. 

 

Since September 2015, Energean Force - Energean’ s own drilling rig - has successfully completed the drilling of eight wells drilling in the field.

fullimg-06.jpg

Energean conducted a 340 km2 broadband 3D seismic survey over the Prinos Oil Field and its surrounding licenses in the Gulf of Kavala during the summer of 2015. The survey also included a complex undershooting operation in the vicinity of the Prinos offshore platform.

The Fast Track processed seismic dataset was available within two months of the seismic acquisition operation being concluded.

The final processed 3D cube was completed during the summer in 2016.The seismic interpretation, including Quantitative Interpretation and PSDM imaging, is ongoing.

This new, state of the art, high resolution 3D seismic data will enable Energean to optimize the location of future development wells within the main Prinos Field and the nearby Epsilon and Prinos North satellite oil fields.

In addition, the new seismic data is being used to further evaluate existing prospects and leads, and to identify new exploration opportunities, with the objective of increasing the contingent and prospective hydrocarbon resources within the Prinos Basin.