GSP awarded an integrated services contract from Energean

February 26, 2018

Energean - contract signingGSP has been awarded an EPCI and drilling contract from Energean Oil and Gas, Greece. In order to increase production from the Prinos concession area, Energean Oil & Gas has initiated the Epsilon field development project, which comprises an unmanned wellhead platform and three inter-connecting pipelines to the existing Prinos Delta Platform.

The scope of work includes the drilling of 3 wells at Lamda Platform location (Aegean Sea), using GSP Jupiter jack-up rig, as well as the Project Management, Construction, Transportation & Installation Engineering, Procurement, Construction, Installation, Pre-commissioning, Assistance in the Commissioning and Start-up of the Lamda platform and inter-connecting pipelines.

Energean has recently signed with BP the extension of the long-term off-take agreement for the Prinos field to November 2025. Earlier in February, Energean announced the signing of a reserves-based senior facility agreement, amounting to US$180 million, with the European Bank for Reconstruction and Development (“EBRD”), the Black Sea Trade and Development Bank, EximBank Romania and Intesa Sanpaolo Bank.