Canoel International Starts Gas Production in Italy

Canoel International Energy has officially started gas and condensate production in Italy, with most of the gas licences recently acquired being located in the South of the country. 

The Calgary-based company completed the acquisition of several Italian producing and exploration properties in June. Most of the licences are located in the regions of Puglia, Basilicata, Molise, Abruzzo and Marche. Production from those licences accounts for approximately 13,800 m3/day equal to 487,384 standard cubic feet/day.

“We are very satisfied to see our Italian production developing steadily under our flag,” company’s CEO Andrea Cattaneo commented in a note.

The production assets are comprised of six operated onshore gas production concessions, three non-operated onshore gas production concessions, an operated exploration permit and three exploration permit applications.