Sound to Hear of Nervesa Go-Ahead Soon

Italy-focused Sound Oil announced Tuesday that it has successfully concluded the 'Conferenza Servizi' process for its Nervesa appraisal well, onshore northern Italy.

The process is the final step needed for the Ministry of Economic Development and various governmental bodies to approve the drilling of the well. Written authorization approving the appraisal well will now be issued and Sound expects to receive this before the end of January.

Sound also confirmed that preparation of the Nervesa well site has now begun.

Sound Oil CEO James Parsons commented in a statement:

"Nervesa is a 21 billion standard cubic feet gas discovery which was discovered by ENI in 1985 and was put into production for several years. The discovery has an independent assessed base case value of circa $60 million and is a flagship project for the company.

"I am pleased to report that preparatory operations on site have commenced which will accelerate spud of the well once the Autorizzazione is issued. We still expect to receive the written Autorizzazione during January."

 

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  PETRONAS Approves Development Plan for... (Sep 1)
 -  Faroe Petroleum Acquires North Sea Int... (Sep 1)
 -  Trinity to Sell GU-1 Block for $2.8M (Sep 1)
 -  Aker Solutions to Slash up to 500 More... (Sep 1)
 -  PTTEP Sells 20% Stakes in 2 Blocks in ... (Aug 31)


Most Popular Articles

From the Career Center
Jobs that may interest you
HES Specialist - PHA Facilitator
Expertise: Facilities Management|HSE Manager / Advisor
Location: El Segundo, CA
 
Chief Product Manager (Drilling)
Expertise: Drilling Consultant|Project Management|Workover or Completion
Location: Houston, TX
 
Vice President of Health, Safety, Security & Environment
Expertise: Environmental, Safety & Training|HSE Manager / Advisor|Regulatory Compliance
Location: Covington, LA
 
search for more jobs

Brent Crude Oil : $54.15/BBL 8.19%
Light Crude Oil : $49.2/BBL 8.80%
Natural Gas : $2.689/MMBtu 1.13%
Updated in last 24 hours