MOG Quadruples Production With Italian Guendalina Field

Mediterranean Oil & Gas Plc (MOG) has announced that it has quadrupled its gas production with the Guendalina gas field off the coast of Italy. MOG holds a 20 percent stake in the Guendalina project.

MOG says that daily production from the field, where production began on 25 October of this year, is approximately 630,000 standard cubic metres daily (scm/day), representing approximately 120,000 scm/day, net to MOG. The production constitutes a quadrupling of production for MOG, from 40,000 scm/day to 160,000 scm/day.

CEO of MOG Sergio Morandi said the field is proving to be very valuable to the company. 

"The Guendalina field is performing very well and has significantly increased MOG's net gas production and revenue," he said.

The Guendalina field lies in 42 metres of water, 47 kilometres offshore of the northeast coast of Italy. MOG says the field holds independently certified 2P gas reserves of 22 billion cubic feet.

Italian Eni, the operator of the field, holds an 80 per cent interest in the project.