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."
WHAT DO YOU THINK?
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.
- Sound Gets Closer to Securing Rig for Badile Drill (Feb 29)
- Sound Energy All Set to Drill First Moroccan Well (Feb 15)
- Sound Energy Confirms Clean-Up Operations at Nervesa (Feb 09)