Prinos CO₂ Storage Capacity Independently estimated by NSAI

Prinos, in Kavala, Greece, has now become one of the very few carbon dioxide (CO₂) storage sites worldwide with storage capacity independently estimated by a Competent Person. Prinos is the location where EnEarth is developing Prinos CO₂, the first licensed CO₂ storage project in Southeast Europe.
Specifically, the worldwide leader Netherland, Sewell & Associates Inc. (NSAI) has prepared a Competent Person’s Report (CPR) confirming the 2P storage capacity of the Prinos reservoir at 51.5 million tonnes of CO₂. Τhis assessment confirms that Prinos can support an annual storage capacity of 2.8 million tonnes for at least 15 years, while sensitivity analyses indicate the potential to extend the operating period beyond 15 years and up to 18–20 years, depending on the scenario.

Commenting on this development, Mr. Nikolas Rigas, Head of Carbon Storage at EnEarth, stated:

“Prinos CO₂ has reached a highly significant milestone, as NSAI, an independent evaluator, also confirms that the Prinos reservoir is capable of permanently and safely storing volumes in the order of 2.8 million tonnes of CO₂ per year for at least 15 years”.“This represents another major step in the maturation of the project, which is the only CO₂ storage project in Southeast Europe that has received environmental approval, obtained a storage permit, and secured an installation permit for the new offshore Omega platform to be installed by the end of 2026 at the Prinos complex to support the planned drilling campaign”.

“We are ready for the next steps, namely the approval from the competent authorities to proceed with the market test for the allocation of injection and storage capacity, which will demonstrate the strong demand for CO₂ storage at Prinos from hard-to-abate industrial facilities”.
“This major investment, which will exceed €1 billion, is progressing according to schedule and is expected to operate at its full capacity of 2.8 million tonnes per year from 2030 onwards”.
The assessment was carried out in accordance with the guidelines and definitions of the 2025 CO₂ Storage Resources Management System (SRMS) developed by the Society of Petroleum Engineers (SPE). The evaluation utilised data from wells drilled in the Prinos area, geological maps, seismic data, hydrocarbon production and water injection data, as well as estimates of project costs and investment recovery mechanisms.

Located in the Gulf of Kavala in Northern Greece, Prinos CO₂ is the first licensed CO₂ storage site in both the Mediterranean and Southeast Europe. Developed by EnEarth, the project is transforming a mature offshore oil field into a CO₂ storage facility, providing industries across Greece and the wider region with a permanent, safe and reliable solution for reducing carbon emissions.
Prinos CO₂ is designed to store up to 2.8 million tonnes of CO₂ per year for approximately 18 years (2P), while its 2C contingent storage resource is estimated at 66 million tonnes of CO₂ as of 2050. At full utilisation, the project could manage a volume of carbon equivalent to approximately 30% of Greece’s current hard-to-abate industrial CO₂ emissions, making it one of the country’s most important decarbonisation assets. EnEarth has already signed 15 non-binding Memoranda of Understanding (MoUs) with industries in the Mediterranean region for the storage a total of 6.12 million tonnes of CO₂ emissions per year.
Prinos CO₂ has also been recognised at the European level. The project is included in the European Union’s Projects of Common Interest (PCI) list and has secured €270 million of funding from the Connecting Europe Facility (CEF), the Greek Recovery and Resilience Facility (RRF), and other national funding sources.

ENDS
Media inquiries:
Sotiris Chiotakis, EnEarth Head of Corporate Communications and Corporate Affairs for Greece, the Balkans and Southeast Europe
e-mail: schiotakis@enearth.earth; tel: +306932663877