Sound Oil's Nervesa Gas Discovery

By Joseph R. Fonseca
Sunday, August 03, 2014
logo

 

Sound Oil, the European / Mediterranean focused upstream oil and gas company, is pleased to update investors on its continued progress with the proposed second well addressing the Southern limb of the Nervesa gas discovery, onshore Italy.
 
The 5,000psi single completion wellhead has now been delivered to a local warehouse and is ready for installation.

The remaining long lead items have now also been ordered and are scheduled for delivery during September.  These additional items include a full set of casing, tubing and the liner hanger.
 
James Parsons, Sound Oil's Chief Executive Officer, commented, "Preparations for the second appraisal well on the 24 Bscf Nervesa gas discovery continue. The arrival of the wellhead and the procurement of the long lead items positions us, from September 2014, to commence operations on site immediately once the permission to drill is granted.
 
The discovery has an estimated NPV10 of circa US$66 million (100%) and is expected to provide material cash flows to the Company from 2015.  The previously announced farm in on this asset is expected to be signed shortly."
 
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Obama’s Budget ‘Grossly Imbalanced’ For US Ports -AAPA

Landside freight transportation funds would increase; navigation, port security and emission reduction funds would drop    The American Association of Port Authorities

Amazon Expands Logistics Reach in China

Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages.

AIWA Highlights Investment Needs on the Nation’s Marine Highways

Nowhere is that more important than on the Atlantic Intracoastal Waterway. As 2016 begins, we at the Atlantic Intracoastal Waterway Association (AIWA) are looking

Energy

OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the

Wood Group Extends North Sea Chevron Contract

Wood Group has secured an extension to continue to support Chevron Upstream Europe across four offshore assets in the North Sea. Wood Group PSN (WGPSN) will deliver

QP, Chevron Ink Offshore Moroccan Deal

Qatar Petroleum has reached an agreement with Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corporation, to acquire a 30% participating interest from

News

Obama’s Budget ‘Grossly Imbalanced’ For US Ports -AAPA

Landside freight transportation funds would increase; navigation, port security and emission reduction funds would drop    The American Association of Port Authorities

All Ships’ Ballast Water Checked in Great Lakes Seaway

Great Lakes Seaway Ballast Water Working Group releases 2015 ballast water management report    The Great Lakes Ballast Water Working Group (BWWG) released its

Port of Oakland Plans for Terminal Closure

Port of Oakland sets plan to shift cargo when terminal closes; ships move to neighbor berths; Saturday and night gates to help cargo flow   The Port of Oakland

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0893 sec (11 req/sec)