MOG has announced the start up of new gas production from the Vigna Nocelli 1 well ("VN1"), onshore Italy.
Mediterranean Oil & Gas plc is an independent oil and gas production development and exploration company with a balanced portfolio of assets located in the central Mediterranean region.
VN1, located inside the Torrente Celone Concession (MOG Operator; 50%), commenced new gas production after a successful workover.
In September 2008 MOG, as operator, successfully completed a rigless workover operation on the VN1 gas production well. Six new gas sand levels opened between depths of 950 and 1,116 meters in the upper pliocene and a significant increment of pressure was recorded. Following the completion of necessary engineering works commercial production has now commenced.
Gas Production and Reserves
Since April 1, 2009, VN1 has been producing approximately 6,000 scm/day of pure natural gas. This start up production should progressively increase to a peak gross target production of 10,000scm/day by September 2009. Following the workover results, an additional 20 MMscm of 2P reserves have been independently certified on this field net to MOG. VN1 should produce approximately 2.5 MMscm per annum.
Sergio Morandi, the Company's CEO, stated, "The operation at Vigna Nocelli is part of the Company's on-going gas production and reserves enhancement strategy. The Company is actively working to maximize the gas production potential from its existing portfolio of production concessions and the utilization of the existing production wells, gas production plants and other infrastructure. Vigna Nocelli is only the first result of a wider work program that by the first half of 2010 should progressively ensure the start up of new production of gas in other existing production concessions too, as indicated in the last Company's trading update release issued on March 30, 2009."
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