Mediterranean doubles oil reserves at Ombrina Mare offshore Italy

Mediterranean Oil & Gas has doubled its proven and probable reserves in the Oligo-Miocene carbonate at the Ombrina Mare field to 40 million barrels of oil.

Independent reservoir engineers Studio Ingegneria Mineraria certified the proven and probable reserves, whereas the proven oil reserves are 12 million barrels of oil and the probable oil reserves are 28 million barrels of oil.

The new reserve number is due to results of 3D seismic re-interpretation, core analysis and production test analysis, among other studies. Continuing analysis is ongoing to further understand the reservoir.

Furthermore, the recoverable proven and probable natural gas reserves at Obrina Mare are estimated at 6.5 billion cubic feet. The natural gas reservoir is trapped in the Pliocene clastic sequence above the oil field.
 
Ombrina Mare Oil and Gas Field 

Spanning some 100 square kilometers, Ombrina Mare is located in the central Adriatic Sea, offshore Italy.
The field development plan for Ombrina Mare was submitted in December 2008. The proposed development includes a production platform and five development wells, as well as an FPSO with a daily production capacity of 10,000 barrels of oil and a subsea pipeline to transport produced natural gas to a nearby existing processing platform. 

The company is progressing activities to secure final approval of the field development plan, which includes granting the production concession by the end of this year. 

Currently, Mediterranean Oil & Gas expects production to commence in late 2012. Production at Ombrina Mare is expected to reach 5,000 to 7,500 barrels of oil a day and 3.5 million cubic feet of natural gas a day.
After first production has been reached, the company hopes to continue drilling on the concession to explore additional prospects. 

With 100 percent of the interest, Mediterranean Oil & Gas serves as the operator of the Ombrina Mare oil and gas field.



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