21st Dec 2015 13:15
LONDON (Alliance News) - Sound Energy PLC on Monday said works to connect the onshore Nervesa well to the national gas export pipeline have begun, following the award of the production concession from the Italian Ministry of Economic Development earlier this year.
The award of the production concession marked the final step in the permitting process to enable commercial production from the onshore well drilled at the Nervesa gas discovery by Sound Oil in 2013.
The upstream gas company, focused on Europe and the Mediterranean, said the remaining works are expected to take about 40 days.
On completion of the connection, the company expects to secure first commercial production.
SNAM, the owner of the national gas pipeline, also has confirmed it has completed its work adjacent to the site and is now ready to receive gas under the sales deal agreed between Sound Energy and Shell Energy Italia. That deal was revealed by Sound Energy on August 6.
Shares in Sound Energy were up 2.6% at 14.11 pence on Monday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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