Coro brings Italian field back online
London-listed Coro Energy announced on March 30 it had resumed production at the Sillaro gas field in Italy, predicting it will earn over €5mn ($5.6mn) annually from the project on the back of high European gas prices.
The field is producing at a stabilised rate of 17,000 m3/day of gas, and is expected to yield on average 13,500 m3/d this year.
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Coro was previously intending to divest its Italian portfolio to US-incorporated Dubai Energy Partners, but changed its mind in early March, citing the spike in European prices in the wake of Russia's invasion of Ukraine. The company has interests in seven gas concessions in the country.