Global Leader in International Oil and Gas Industry News

posted in:

Sound Oil plc announces Rapagnano gas field - concession award

Friday, Nov 30, 2012

Sound Oil, the Italian focused upstream oil and gas company, is pleased to announce that approval has now been received from the Italian Ministry of Economic Development permitting the Company to commence operations at Rapagnano shortly.

The Rapagnano gas field, located in the Fermo Province (Marche), onshore Italy, was discovered in 1952 and produced 4 Bscf gas from the Pliocene interval until 2001, when the well was shut in. Sound Oil intends to re-complete the lower reservoir which has produced gas with minimal water for over 40 years. This interval has an estimated 1.3 Bscf gas reserves (P50) remaining which is expected to be produced over a thirteen year field life.

James Parsons, Sound Oil's Chief Executive Officer, commented:

"The Company continues on track to achieve the strategic milestone of first gas and first revenue very shortly, having now secured the concession. Operations on the site will commence within a week."

Source: Sound Oil

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Silver Fox® labels exhibit excellent results in latest long-term UV tests 16-04-2014
OMVS explores adding oil & gas transportation services 16-04-2014
Octagon 88 Resources announces Red Earth light oil project update 16-04-2014
Dejour sees 60% increase in net production at Woodrush 16-04-2014
Integrated Oceaneering team combines technologies for Australian success 16-04-2014
SoCalGas Unveils Branded, Public-Access Compressed Natural Gas Refueling Station 16-04-2014
First Liquified Natural Gas Tank Rolls Off Assembly Line 16-04-2014
Barryroe farm out update 16-04-2014
Gastar Exploration Resumes Unrestricted Marcellus Shale Production 16-04-2014
Lamprell has received a new contract award for the construction and delivery of two Mobile Offshore Drilling Platforms 16-04-2014