The Hellenic Hydrocarbon Management Company (ΕΔΕΥΕΠ) has granted a long-awaited license for carbon dioxide storage at the Prinos oil field, part of a broader effort to enhance environmental sustainability in the energy sector. This approval is a significant milestone, as it certifies that the geological formation in Prinos is adequate for safely storing CO2, provided that all specified operational and usage conditions are met according to the license requirements.

The licensing process began in 2022, when the agency issued an exploratory license for CO2 storage potential in the area. With this latest approval, all key licensing stages outlined under national and EU laws have been completed. This process underscores the growing commitment within Greece to adopt more sustainable energy practices, positioning the country to play a role in reducing greenhouse gas emissions through innovative technologies.

The CO2 storage license has a duration of 25 years and pertains to the designated storage location and facility within Prinos' offshore concession area near Kavala. Utilizing the depleted oil reservoir for carbon storage is seen as a strategic move to mitigate emissions while allowing Energean to leverage existing infrastructure efficiently. This initiative reflects an increasing recognition of the importance of carbon capture and storage in combating climate change, highlighting Greece's transition towards greener energy solutions.