Monday, December 21, 2009

Arriva il mostro Ombrina

Il 3 Dicembre la MOG ha sottomesso la Valutazione di Impatto Ambientale al ministero dell'Ambiente per Ombrina Mare (d30 BC MD), il mostro davanti a San Vito/Ortona. Vogliono mettere una piattaforma dove hanno già scavato prima e fare altri 4 pozzi per estrarre petrolio e gas. Se non ricordo male non erano più di 5km dalla costa.

Questa concessione non e' per la ricerca ma per la produzione. Se gli accordano il permesso, rimangono li per i prossimi 20-30 anni, e probabilmente con desulfuratore incorporato visto che a terra il centro oli non c'e'. Maggiori dettagli li sapremo dopo che avremo visto le carte.

La MOG conta di avere l'approvazione dal ministero entro luglio-agosto 2010, e avere la concessione entro la fine del 2010.



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http://www.investegate.co.uk/Article.aspx?id=200912040700055809D

On 3 December 2009, the Company submitted the Environmental Impact Assessment Study ("EIAS") to the Italian Ministry of Environment. This submission follows the technical approval of the Ombrina Mare Field Development Plan by the CIRM committee of the Ministry of Environment, issued on 23 June 2009. MOG aims to have completed the environmental approval process by the third quarter of 2010, and is targeting the final grant of the full production licence by the end of 2010.




In addition, the Company remains on schedule with the execution of several key post-drilling technical studies. Initial results of these studies are encouraging and MOG is pleased to announce that it is planning to request a review and update of the independent certification of the field's oil reserves. The Company intends to publish the full certification report in the first quarter of 2010.




Background on Ombrina Mare Production Concession Application (d30 BC MD):




The application for the production concession to permit development of the Ombrina Mare Oil & Gas Field was submitted on 17 December 2008. It covers an offshore area of approximately 100 sq.km. in the central Adriatic Sea.




The Ombrina Mare field development plan ("FDP") has been designed by Proger SpA to produce the field's 20 MMbbls and 6.5 Bcf of certified 2P oil and gas reserves.




Oil is trapped in a Miocene and Cretaceous carbonate platform reservoir and gas is trapped in 16 reservoir horizons in the middle-upper Pliocene gas sands complex. The OM2dir well produced 17-19 °API oil at a rate of approximately 1,000 bbls/d, without any formation water. The OM2dir well was completed as an oil producer and a temporary platform has been put in place.




The proposed development plan comprises:




A single production platform at the OM2dir temporary platform location;

5 development wells (including the already completed and suspended oil producer OM2dir), two of which will have double completion for oil and gas;
1 FPSO plant designed for maximum oil production of 10,000 bbls/d and to store up to 50,000 tonnes of oil; and
A 12km submarine gas pipeline to connect gas produced from the Ombrina Mare area to an existing offshore gas production plant.



The current estimated capital expenditure for the FDP amounts to between €150 and €180 million, based on prices prevailing in 2008.




Under the FDP, gross oil and gas production from the main Ombrina Mare field is targeted to progressively increase to a peak of 5,000 to 7,500 bbls/d of oil and 3.5 MMcf/d of gas. In the Company's development scenario, production is now scheduled to start in late 2012 once all of the development wells have been drilled and the production facilities are in place.




An additional and contingent development plan has also been submitted in the application for the oil and gas production concession. This plan is directed at obtaining the approvals to appraise and explore the additional contingent and prospective oil and gas resources identified inside the Ombrina Mare production concession area and will be implemented once the main field is in production.

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http://www.smallcapnews.co.uk/article/Mediterranean_Oil_Gas_sets_sights_on_Guendalina_and_Ombrina_Mare/7952.aspx

Mediterranean Oil & Gas, the central Mediterranean-focused exploration and production group, today said it was hoping to get its hands on a production licence for the Ombrina Mare Oil & Gas Field by the end of 2010.

Mediterranean is chasing 2P reserves of 20 million barrels of oil and 6.5 billion cubic feet of gas on the 100%-owned, 100 sq km Ombrina offshore block in the central Adriatic Sea. It is hoping to have cleared the environmental approvals for its €150-€180 million field development plan by the third quarter of 2010.

At the Guendalina Gas Field, where Mediterranean holds a 20% stake and ENI holds 80%, the company is expecting government authorities to issue the Guendalina production concession by the year-end 2009. After that, field development activities should begin in January 2010.

Construction and installation of the production platform at Guendalina is scheduled to be completed in 2010; while the drilling of two development wells is planned in the first half of 2011, with gas production and associated revenues expected to commence prior to the end of June 2011.

Sergio Morandi, Mediterranean’s chief executive, said: “Guendalina and Ombrina Mare continue to produce excellent milestones that are propelling us towards our goal of becoming a medium sized oil and gas producer. In addition, the expected award by year-end 2009 of the Guendalina production concession allows the company to consolidate the development timetable and the forecast start-up of field production. The field's gas production will allow MOG to triple its current annual rate of net gas production.”

Elsewhere, Mediterranean and its joint venture partners, ENI and Total have decided to postpone until 2011the drilling schedule for the Monte Grosso 2 exploration well on the S.S. Bernardo permit in Italy.

At the S. Andrea Concession in Italy, where Mediterranean has a 40% stake and operates the Anzano gas field development project, the Anzano 1 production well is expected to begin gas production by the first quarter of 2010.

Finally, as part of a recent exploration portfolio review, Mediterranean said it now intended to relinquish or release a total of eight exploration permits in Italy and Tunisia.



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http://www.ibtimes.co.uk/articles/20091204/mediterranean-oil-gas-aims-to-triple-gas-production.htm

Mediterranean Oil & Gas hopes to triple its current gas production after the Italian economic development ministry issues a production concession for the Guendalina gas field.


The company expects to receive the concession by the end of this month and ENI, its 80% partner and operator, to start field development activities in January.

Construction and installation of the production platform is scheduled to be completed in 2010 and drilling of two development wells is planned for the first half of 2011.

Gas production and associated revenues are expected to begin before the end of June 2011.

MOG has also submitted an environmental impact study for the Ombrina Mare oil and gas field, where it is the 100% owner and operator. It is targeting the final grant of a full production licence by the end of 2010.

CEO Sergio Morandi said, 'Guendalina and Ombrina Mare continue to produce excellent milestones that are propelling us towards our goal of becoming a medium-sized oil and gas producer.

'In addition, the expected award by year-end 2009 of the Guendalina production concession allows the company to consolidate the development timetable and the forecast start-up of field production.

'The field's gas production will allow MOG to triple its current annual rate of net gas production.'



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http://www.proactiveinvestors.co.uk/companies/news/10982/mediterranean-oil-gas-to-update-ombrina-mare-reserves-after-encouraging-post-drill-study-results-10982.html

Mediterranean Oil & Gas (AIM: MOG) said its key projects in Italy made progress and reached new milestones, expecting to update the certification of the oil reserves at Ombrina Mare in early 2010 and secure a production concession for the Guendalina gas field by year-end.


MOG aiming to wrap up the environmental approval process for Ombrina Mare by the third quarter of 2010 and secure the full production license by the end of that year after submitting the environmental impact assessment study to the Ministry of Environment. Results from the currently ongoing several key post-drilling studies have been encouraging and MOG currently plans to request a review and update of the independent certification of the field’s oil reserves and publish the full certification report in Q1 2010.


The current estimated capex (capital expenditure) for the Ombrina Mare field development plan (FDP), which includes a total of five wells, a plant designed for oil production of 10,000 bbls/d (barrels per day) and a 12 km (kilometre) submarine gas pipeline, stands at between €150 and €180 million.


The Ombrina Mare FDP has been designed by Proger SpA to produce the field's 20 MMbbls (million barrels) and 6.5 Bcf (billion cubic feet) of certified 2P oil and gas reserves. Production is scheduled to start in 2012 and is expected to peak at 5,000 to 7,500 bbls/d of oil and 3.5 mmcf/d (million cubic feet per day) of gas.


Meanwhile, at Guendalina, a production concession from the Italian Ministry of Economic Development for MOG’s 20% owned Guendalina gas field is now expected by year-end 2009 with field development activities expected to start as soon as January 2010. The drilling of two development wells is slated for H1 2011, with gas production and associated revenues expected to commence prior to the end of June 2011.


Based on the study completed by Italian oil and gas giant ENI SpA (NYSE: E), which owns an 80% working interest in the field, the aggregate gas production from the field is expected to be 22 mmcf/d. The field has independently certified gas reserves of 22 bcf (billion cubic feet).


“Guendalina and Ombrina Mare continue to produce excellent milestones that are propelling us towards our goal of becoming a medium sized oil and gas producer. In addition, the expected award by year-end 2009 of the Guendalina production concession allows the Company to consolidate the development timetable and the forecast start-up of field production,” said Chairman and Chief Executive of MOG Sergio Morandi.


MOG has also provided updates from its two other projects, the 22.89% owned S.S. Bernardo permit, where the company and its JV (joint venture) partners ENI and Total postponed the drilling schedule for the MG (Monte Grosso) 2 exploration well to 2011 due to the unavailability of the EMSCO 3 rig. Site maintenance works are now planned for 2010 to prepare it for a well spud in 2011.


The Monto Grosso prospect has an expected oil resource of 64 mmbbls (million barrels) net to the company and gross resources of 280 mmbbls.


The Anzano 1 production well inside the MOG operated and 40% owned S. Andrea Concession is expected to commence gas production by Q1 2010. Under the field development plan, gross gas production at Anzano 1 is targeted to increase to a peak of 7,000 - 8,000 scm/day (standard cubic metres per day) with 2,800 to 3,200 scm/d net to MOG.


The company is currently reviewing its existing exploration portfolio to identify exploration permits with high risk and limited resource potential. MOG intends to relinquish or release a total of eight exploration permits in Italy and Tunisia following the review.

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