Basin off the northern island of Thassos. It says there are an estimated 30 million barrels of proven and probable oil reserves in the Prinos field. Under the same license, it has 28 million barrels of contingent resources where significant exploration potential was identified in three-dimensional seismic surveys in 2015. The EBRD said the financing follows a $75 million loan agreed with Energean earlier this year related to investment and development of the Prinos field. The new EBRD loan will also support the introduction of new technology, investments to avoid gas flaring and a number of resource efficiency investments to optimize the supply and use of energy, the EBRD said in a news release. Energean says there is also potential from ongoing exploration activity in
Italy’s state railway is expected to bid for its Greek counterpart Trainose, but Russian Railways (RZD) is less likely to do so, sources with direct knowledge of the matter told Reuters yesterday. Athens is selling Trainose and maintenance company Rosco to meet the terms of its latest bailout deal signed last summer. It received nonbinding expressions of interest in Trainose from Italy’s state railway, RZD and Greek construction group GEK-Terna in April. Binding bids for Greece’s railway network are due by 5 p.m. today.