Operator Triton Mediterranean Oil & Gas NV, a unit of Triton Energy Ltd., Dallas, will team with partners Union Texas Adriatic Inc., a Union Texas Petroleum Holdings Inc. unit, and Canada Northwest Italiana SpA to explore the contiguous permits. They total 100,673 acres and include Fosso del Lupo, 36,250 acres; Masseria di Sole, 32,588 acres; and Valsinni, 31,835 acres.
Triton said geological studies and seismic reprocessing and acquisition are to begin soon and continue through 1997.
The Italian government has authorized assignment of interests in each permit to Triton 50%, Union Texas 25%, and Canada Northwest Italiana 25%, a unit of Calgary's Sherritt International Corp., formerly Canada Northwest Energy Ltd.
Triton also holds 40% interest each in the 246,724-acre offshore DR/71 block and in the 246,507-acre DR/72 block, both operated by Enterprise Oil Inc. Enterprise owns the remaining interest in each block.
Holdings, seismic work
The new permits increase by 28% Union Texas Adriatic's net acreage position in the Basilicata region of the southern Apennines oil play (OGJ, Feb. 27, 1995, p. 64).
"Union Texas Adriatic is now the largest leaseholder in the southern Apennines among U.S.-based oil and gas companies," said John Whitmire, chairman and CEO.
The company's net acreage position as a result of the new permits is 112,194 net acres, covering a total of seven exploration permits.
The company also holds interests in the Serra Corneta, Tempa dei Mercanti, Forenza, and Baragiano permits in the same region. Geological reconnaissance and seismic data acquisition are under way on the Union Texas-operated Serra Corneta permit and on Tempa dei Mercanti and Forenza permits.
Earlier this year, Union Texas increased its working interest in the Serra Corneta permit to 82% from 42%. Its partner in the 29,157-acre permit is Italmin Petroli Srl with 18%.
Edison Gas is operator on the 89,449-acre Tempa dei Mercanti permit and has a 33.33% interest. Union Texas and Lasmo Italia Sud SpA hold the remaining equal interests.
Lasmo International Ltd. is operator on the 97,603-acre Forenza permit and holds a 20% interest. Other interests are held by British Gas Rimi SpA 30%, Mobil Oil Italiana SpA 22.5%, Union Texas 20%, and Fina Italiana SpA 7.5%.
Drilling plans
By 1998, Union Texas plans to participate in two or three "high-potential exploration wells annually in the southern Apennines region," said Union Texas' Whitmire.
Union Texas is participating in the 1 Monte Foi wildcat currently drilling on the Baragiano Permit, operated by Enterprise Oil Exploration Ltd.
Spudded last May, the well is programmed to TD of about 20,670 feet. It will take as many as 12 months to drill and evaluate, Union Texas said.
Baragiano permit interest owners are Enterprise Oil 55%, Union Texas 20%, Mobil Oil Italiana 18%, and Fina Italiana 7%.
Pipeline scheme
A pipeline is planned to start up by late 1997 or early 1998 to transport oil from area fields to the Gulf of Taranto, Triton said.
Agip SpA will operate the pipeline.
The proposed pipeline route would extend to the port city of Taranto from the Monte Alpi and Tempa Rossa field areas.
It would cross the Fosso del Lupo and Masseria di Sole permits.
No additional details were available at presstime.
Copyright 1996 Oil & Gas Journal. All Rights Reserved.
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