By OGJ editors
HOUSTON, Mar. 10 – The Ministry for Economic Development awarded the 5-year Colle Ginestre license in the southern Apennines fairway on Italy’s Adriatic coast to Cia. Generali Idrocarburi and a unit of Sound Oil PLC.
CGI is operator with 50% interest, and Sound Oil’s Apennine Energy SRL has the other 50%. No immediate capital expenditure is planned.
The license is in Campobasso (Molise) and Chieti (Abruzzo) in the Southern Apennines fairway for shallower gas and deeper oil and is adjacent to Cupello-San Salvo field, which has produced more than 330 bscf from Pliocene.
The permit has several wells, including Eni SPA’s 1988 Colle Turchese-1dir, which had gas shows on the flank of a structure characterized by an encouraging flat spot on seismic data that could indicate a gas accumulation.