Eni discovered the field, within the AR94PY exploration permit area, drilling and testing five wells and acquiring 3D seismic over the acreage.
The location is in shallow water up to 25 m (82 ft) deep off the Emilia Romagna region of eastern Italy, and outside the country’s 12-nautical mile exclusion zone.
In addition, the Ministry has invited Po Valley to start the environmental approval process for the field. The Australian independent expects to submit environmental impact assessment (EIA) documentation during the first half of 2017.
Following EIA approval and granting of a full production concession, it plans to drill two production wells then connect the gas field to Eni’s Naomi Pandora offshore gas processing facility.
A feasibility study and development design, including well locations, is already complete.
Po Valley Chairman Michael Masterman said planning was well advanced to take the field into production, and it had identified locations for the well sites and platform based on 120 sq km (46 sq mi) of 3D seismic and a well dataset purchased from Eni. It expects to finance development by bringing in a partner experienced in offshore drilling.
AR94PY, awarded in July 2012, also contains Eni’s Carola and Irma gas discoveries.