21 November 2013
Sound Oil plc
("Sound Oil" or the "Company")
Casa Tiberi EPC Award
Sound Oil, the European / Mediterranean focused upstream oil and gas company, is pleased to announce an update to the Casa Tiberi onshore gas discovery in the Marche region, Central Italy. Following Board approval to develop the Casa Tiberi gas field, an Engineering, Procurement, Construction and Lease contract has been awarded to TESI Srl, a local company with proven experience in onshore processing plants in Italy. The contract is for a total of Euro 300,000 and involves the three month construction and subsequent lease of a production skid in anticipation of first gas from the field in early 2014.
The plant will be based on modular skids with nitrogen used for both gas dehydration and as "service gas" providing an effective and extremely environmental friendly solution to deliver the gas to the local low pressure network.
James Parsons, Sound Oil's Chief Executive Officer commented:
"We are pleased to report continued operational progress in Italy. Whilst Casa Tiberi is one of our smaller assets it will add to Sound Oil's near term production and revenue."
For further information please contact:
James Parsons, Chief Executive Officer
Smith & Williamson - Nominated Adviser
Tel: 44 (0)20 7131 4000
Peel Hunt - Broker
Tel: 44 (0)20 7418 8900