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Tuesday, 02 December, 2008, 03:40 GMT | more >>

Mediterranean tucks into Italian feast



By Upstream staff 

Mediterranean Oil & Gas has snapped up four new Italian exploration permits - Villa Mazzarosa, Serra dei Gatti, Villa Carbone and Colle dei Nidi.

Mediterranean will operate Villa Mazzarosa with a 100% stake, which holds the undeveloped Savini and Fonte Dell Olmo gas fields.It has also taken a 100% oeprating stake in Serra dei Gatti.

At Villa Carbone, Mediterranean has a 50% operating stake, with Gas Plus Italiana holding the remainder.

Gas Plus Italiana will operate Colle dei Nidi with a 65% interest. Mediterranean has 25%, with Petrorep holding the remainder.

The new permits cover a combined area of 287 square kilometres.

Mediterranean said it will now carry out environmental clearance studies for the new areas.

In parallel to the appraisal of Savini and Fonte Dell Olmo fields, the company will conduct geological and geophysical studies on each of the other licences to better define a number of identified leads and prospects for gas targets.

Meanwhile, Mediterranean said it expects to spud the Teboursouk well in Tunisia in December or early January after extended operations on a previous contract delayed mobilisation of the CTF - Rig 06.

In France, the Grenade.3 well, on the St Laurent permit, will spud on 6 December.


Tuesday, 30 October, 2007, 11:49 GMT  | last updated: Tuesday, 30 October, 2007, 11:49 GMT

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