European-focused producer Sound Oil has been given the go-ahead to develop the Santa Maria Goretti prospect after securing a permit from the Italian government.
The onshore site, in the country’s Marche region, sits betweeen two Eni gas fields which have been in operation for more than three decades.
Now the company plans to start drilling early next year to appraise the potential of the site.
“This is an important permit award for Sound Oil which unlocks another material low risk discovery in the portfolio,” said Sound chief executive James Parsons.
“ENI’s adjacent gas fields have been producing for over 30 years and the southern extension within the SMG Permit area is believed to be undrained. A CPR on this opportunity, which is potentially larger than Nervesa, will be commissioned shortly.”