We are committed to ensuring fields are managed by licensees to ensure economic recovery of hydrocarbons while upholding the highest standards of safety and environmental protection.
Production licenses are granted for 25-year terms, extendable for up to two five-year periods. Should this period be insufficient, the agreement with the lessee(s) may be re-negotiated with HEREMA and a new agreement concluded.
Out of Greece’s eight active concessions, the Prinos block is currently the only one in the production phase. The Prinos-Kavala offshore basin is located in the North Aegean Sea, 6 km northwest of the Island of Thasos in water depths ranging between 30-50 m. Production is derived from three fields: Prinos, Prinos North, and Epsilon.