Offshore staff
ATHENS, Greece – The newly-created Third Point Hellenic Recovery Fund has agreed to provide $60 million to Energean Oil & Gas.
The share capital arrangement will be used to fund a four-well program offshore Greece, aimed at doubling Energean’s production from the offshore Prinos and South Kavala areas to 4,000 b/d by year-end.
Additionally, the cash injection will help finance the development of the 32-MMbbl Epsilon structure next year via an unmanned platform tied back to the main Prinos production facilities.
Energean also plans a new exploration program, including participating in the open door tender process in three areas in western Greece.
5/28/2013
