Sound Oil Confirms Plans in Italy

UK-based Sound Oil confirmed its operations at the Casa Tiberi field in Italy, saying that construction work are on schedule.

"We are pleased to report that operations at the Casa Tiberi site continue as planned - with first gas expected in the first half of 2014," Sound Oil chief executive James Parsons said in a note released on Monday.

The Casa Tiberi discovery well, drilled in 2011, was perforated in a single zone at a depth of 571-581 metres, and during testing flowed at a rate of 1.3mln cubic feet per day. The field is located in the Marche Region, onshore Italy.

The press release confirms the plan announced on 14 March 2014.

Casa Tiberi is a small asset, but Sound Oil sounds enthusiastic about the field’s ability to add to the company’s near term production and revenue. In July, Sound Oil announced a gas discovery at Nervesa in the Po Valley. The company expects to achieve first gas sales from Nervesa in 2015. The British firm is also working on the Rapagnano field, which delivered first gas in May.