HEREMA - Upstream Oil and Gas Exploration - Development


The project life cycle’s development phase includes the period after an economic discovery has been made and foresees the steps and processes needed to take the discovery up to the production phase.


Discovered in the early 1980s and located on the west coast of the Peloponnese, the Katakolon field is currently the only area in Western Greece with a proven oil and gas discovery. Recoverable reserves are estimated at 18 million of boe. More specifically, the offshore area has confirmed oil and gas reserves, while the onshore area is promising for shallow biogenic gas discoveries.

In August 2016 the Licensee declared commerciality and entered the 25-year exploitation period. Production is set to commence after the approval of the Environmental Impact Study.

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Energean Oil & Gas: 100%
25-year production stage
Block Size
59 Km2
Water Depth
25 m to 1000 m
Depth of reservoir
2,300 m to 2,600 m
Seicmic Data
1,466 km
Preliminary assessment of hydrocarbon potential
oil and gas



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  1. 2014

    Licensing agreement ratified by the Greek Parliament.

  2. 2014-2016

    Reprocessing and interpretation of existing 3D data.

  3. 2016

    Declaration of commerciality.

  4. 2016

    Conversion of the exploration license for the proven West Katakolon offshore field into a 25-year production license.

  5. 2017

    Field development plan submitted to and approved by HEREMA.

  6. 2018

    Submission of the Environmental Strategic Impact Assessment to the Greek Ministry of Environment and Energy for public consultation.

  7. 2019

    Launch of public consultation.