Sound Oil Sees Commercial Production from Nervesa By Year-End

UK-headquartered Sound Oil received the award of the Casa Tonetto production concession (which includes the Nervesa discovery) in Italy from the Italian Ministry of Economic Development.

‘The award of the Production Concession is the final step in the permitting process to enable commercial production from the onshore well successfully drilled at the Nervesa gas discovery by Sound Oil in 2013. Construction of production facilities is expected to commence shortly in anticipation of securing first commercial gas later this year’ reads the note released on Thursday. 

Nervesa is a 21 billion standard cubic feet field discovered by ENI in 1985. 

“The Nervesa discovery is approximately 80 metres from the high and low pressure gas distribution networks. Similar to the Company's other existing onshore discoveries, Nervesa benefits from very strong gas prices.  A Gas Sales Agreement with a long term partner is expected to be signed shortly” James Parsons, Sound Oil's Chief Executive Officer, commented.