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Greece begins operation of oil and gas field Katakolon near Peloponnese. The Energy Ministry has given drilling license for Energean, which was the only company producing oil in Greece. The concession is for a period of 25 years and takes effect immediately. This will be the first case of extraction of energy resources in the western part of Greece.

Energean will invest 45 million EUR in development of the field. Currently Energean operate two oil fields near Thassos Island.

The project is part of the plans of the Greek government to support local production of energy raw materials. The first discovery off the coast of the Peloponnese was made in 1981. The 3D surveys were carried out in 1984 and so far other actions deposit has not been made. The plans are the first quantities of oil and gas to be removed at the end of 2017 – beginning of 2018.

Currently Energean produces 5,000 barrels per day from the deposits near Thassos and Kavala. The investment plans of the company are up to 2018 the yields to be doubled. The total planned investment of the company are about 200 million EUR.