Sound Oil Closer to Nervesa Production after Receive EIA Technical Approval

Onshore Italy-focused junior producer Sound Oil reported Tuesday that it has received the technical approval of the Environmental Impact Assessment for its Nervesa gas discovery production concession in northern Italy. The approval was given by the Veneto Region's Technical Committee.

Sound said that the final EIA approval from the Veneto Region and the Nervesa production concession award from the Italian Ministry of Economic Development are expected to follow at some point during the first quarter of the year.

The technical approval follows the receipt in December 2014 of the final EIA approval from the Veneto Region for the drilling of the second Nervesa appraisal well, where site operations are expected to begin shortly, Sound said.

Sound CEO James Parsons commented in a company statement:

"Securing first commercial production at the Nervesa gas discovery, expected during 2015, will be a landmark event for Sound Oil.  The first well is expected to initially generate over Euro 4 million [$4.5 million] in annual revenues."

 



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

WHAT DO YOU THINK?

Click on the button below to add a comment.
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
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Dispatcher Level 1 and Level 2
Expertise: Logistics Management
Location: Denton
 
Field Specialist
Expertise: Field Development|Field Service Tech
Location: Dickinson, ND
 
Field Technician Intern
Expertise: Field Development
Location: Charlotte, NC
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours