Greece's sole oil generator Energean Oil & Gas has just increased its recoverable oil deposits to approximately 30 million barrels, which is over 10% of its total deposits.
The Hellenic corporation manufactures an estimated 1,700 crude oil barrels daily, at its plant near Thassos. Energean's production does not supply enough oil for the nation's requirements; now Greece is aiming to tap unsourced hydrocarbon outlets in its western region.
New technology administered at Energean has resulted in a production rate fifteen times larger than its past production rate. Chief Executive Matthios Rigas stated, "Production from the Gulf of Kavala (Thassos) will continue for at least a further 15 years", as reported by Kathimerini.
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