|Term||20 years, renewable|
|Net Value||Under evaluation|
The Carità exploration permit is located in Northeast Italy, within the Alpine foredeep province. Two wells (Nervesa-1 and Nervesa-1dir A) were drilled by ENI in Nervesa structure which found at least thirteen gas-bearing sand layers within the Tortonian. Of these layers, only one was completed in Nervesa-1 and produced between 1989 and 1991.
In 2010, the permit was acquired by Celtique Energie; in November 2011 Sound Energy acquired Celtique’s interest and operatorship. Sound Energy drilled its first well – Sant’Andrea 1 – in July 2013 finding 46 metres of net pay across 13 zones. The well test achieved a total gas flow rate of 2.7 Mcfd from multiple sandstone layers in the Upper Miocene Formation. Following these successful results, Sound Energy applied for a Production Concession and achieved first gas in 2016.
Production from “Sant’Andrea 1” well started in February 2016 and was temporarily suspended in July 2016. An application to sidetrack the well was made in May 2016. An updated asset and reserves evaluation is ongoing.