The European Commission has given the “green light” for 150 million euros of state aid for Greece’s first CCS Project, “Prinos CO2″, located in the Gulf of Kavala, northeastern Greece, by Energean, after negotiations between Greece’s Ministry of Environment and Energy and the commission concluded positively. This marks Greece’s first CO2 geological storage project venture.

The first exploratory drilling after 22 years, at Zitsa, Ioannina, and the first offshore oil rig exploration after 43 years, at Prinos, both in northern Greece, are to be launched within a few months’ time, it was reported on Saturday.