Edison, IGP Garner Torrente La Vella Permit

Mediterranean Oil & Gas Plc

Milan-based Edison S.p.A. and Intergas Piu S.r.l. (IGP) have won a new Italian exploration permit, Torrente La Vella. Edison is the operator with a 60-percent interest. IGP, a unit of Mediterreanean Oil & Gas Plc, owns the remaining 40%.

The permit is located onshore southern Italy in the area where IGP owns and operates the Monte Verdese, S. Teodoro, and Scanzano production concessions and the Masseria Gaudella exploration permit. The new permit covers 9.65 square kilometers and lies within the Basilicata region.

The Edison and IGP joint venture is planning to re-process previously acquired seismic data and, upon confirmation of an already identified prospect, drill one exploratory well for gas-bearing targets.

“The company is working to continually renew and balance its Italian portfolio mix of exploration and production assets,” said Giovanni Catalano, Mediterranean’s director. “The recent award of the Torrente La Vella permit is a perfect fit with that strategy.”