Italy: Canoel awarded two southern gas fields

By OGJ editors

Italy’s economics ministry finalized the award to Canoel International Energy Ltd., Calgary, of the Torrente Vulgano and Canaldente gas field licenses formerly produced by Eni.

Torrente Vulgano is in the Puglia region and Canaldente is in the Basilicata region, both in southern Italy. Both are connected to the national gas distribution grid.

Torrente Vulgano averaged 279,000 scfd in 1997-2,000, and Canoel expects to resume production in 9 months at an undetermined rate. Canaldente, also to be placed on production, appears to be a good candidate for gas storage upon depletion.

Gas prices in Italy are roughly three times those in North America, Canoel pointed out.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...