By OGJ editors
HOUSTON, Dec. 8 – Orca Exploration Group took a farm-out from Northern Petroleum PLC to earn an interest in the Longastrino permit in the eastern part of Italy’s Po basin.
A well is to be drilled in 2011 to 2,500 m on the La Tosca prospect, 2 km northeast of Alfonsine gas field, where 3D seismic shows a well-defined amplitude anomaly. A drillsite is being sought.
Orca will pay back costs and fund the first well up to 4.3 million euros and 70% thereafter to complete the drilling phase and may also pay testing costs up to 1.3 million euros. Northern will operate during drilling and testing, and Orca will become operator after that.
Dreamstime | © Charles Montgomery.
Photo from SABIC Limburg BV.
