Oil in Katakolon

Scientists have started exploring the Ionian Sea and Western Greece for oil, thinking that there is a strong possibility to find sources of oil in Katakolon and other seaside areas in Western Greece.

According to a recent study, scientists think that finding oil in this part of Greece is not only possible, but also a rather more plausible solution, since the western part of the country does not have any “red zones” or claims by neighboring countries – as it happens with the Aegean Sea.

There is a source of oil close to the Greek borders with Albania, and experts suggests that this source is connected with the Ionian sea and lower parts of the Peloponnese Peninsula.

A Greek geologist and oil technician, Kostas Nikolaou, who traveled to Katakolon and other regions of Western Greece denoted that there are rocks naturally painted by oil in these areas, suggesting the existence of oil deposits. These rocks can actually give “birth” to oil when at the proper temperatures.

Mr Nikolaou also said that 3.5km away from Katakolon port, at 2,800m deep, there are some known sea stripes where they have already found oil. Numerous structural and stratigraphic trapping possibilities and good quality source rocks, reservoirs, and seals were also identified. This part is known as the deposit of Katakolon. After all, fishermen in Katakolon are used to seeing bubbles in the sea, where they moor their boats.

During the 80s there were already some thoughts about the exploitation of the oil existing in Katakolon, but the company that started this project was bought by another company, whose owner thought that it would be too expensive to dig for oil at this area, therefore the project was abandoned.

Mr Nikolaou also said that there is some new interest from oil companies for the area of Katakolon, as well as other areas in Western Greece and he expects that within the next few years we will be able to exploit the natural sources of oil in a profitable way.