Gulf Oil and Gas accountACCOUNT

Saffron Energy Awarded Sant' Alberto Production Concession

Source: www.gulfoilandgas.com 10/17/2017, Location: Europe

Share |
Saffron Energy, the AIM quoted European natural gas company, has been awarded a Production Concession for its Sant' Alberto gas field from the Italian Ministry of Economic Development.

The Sant' Alberto licence covers an area of 19.51 km2 and is located close to the Sillaro field. It requires a simple development, involving the installation of a modular gas processing facility and connection of this gas processing facility to the Italian national grid. The processing facility will comprise of a separation and hydration system, nitrogen generation and a tank/vent. Completion of this development and first production is expected during the first half of 2018.

The Sant' Alberto production concession has 2P Reserves of 2.0 billion cubic feet (bcf) (59.5 Million metric standard cubic metres (MMscm)) and production capability is expected to peak at around 29,500 standard cubic metres (scm) / day.

Saffron Energy's portfolio currently comprises of three granted production concessions (link to map https://saffronenergy.co.uk/operations/strategy/ ):

- the Sillaro Gas field near Bologna, which is currently producing from a single level with a daily rate averaging between 5,000 to 10,000 scm /day;
- the Bezzecca Gas field located near Milan, which commenced production in April 2017 from one well; and
- the Sant' Alberto Gas field, which expects first gas in 2018.

Saffron has an offtake agreement with Shell Energy Italia S.r.l, - a subsidiary of Shell, for all gas produced from the Company's fields, which goes directly into the Italian national grid, which is owned and operated by SNAM Rete Gas S.p.A.

Acquisitions and Divestitures News in Italy >>

Mexico >>  10/19/2018 - Petrofac Limited has completed the sale of 49% of the Company's operations in Mexico to Perenco (Oil & Gas) International Limited, following approval ...
New Zealand >>  10/19/2018 - Melbana Energy Limited provides the following update on the divestment of its 30% interest in its non-core New Zealand Permit PEP51153 (“Permit”). ...

Egypt >>  10/18/2018 - SDX Energy Inc., the North Africa focused oil and gas company, announces that, further to the announcement made on 20 September 2018, discussions rega...
Norway >>  10/18/2018 - Equinor has signed an agreement with PGNiG to sell its non-operated interests in the Tommeliten discovery on the Norwegian Continental Shelf (NCS) for...

Denmark >>  10/17/2018 - Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has reached an agreement with publicly listed Norwegian Energy C...
Mozambique >>  10/17/2018 - At the presence of the Ministry for Mineral Resources and Energy Ernesto Max Tonela, Eni has signed in Maputo the contract for the exclusive explorati...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Italy Oil & Gas 1 >>  2 | 3 |

More News

 

Oil & Gas Companies in Italy >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.