Mediterranean-focused Sound Oil today announced production at its onshore Rapagnano field was 15% above budget in 2013.
The upstream oil and gas firm today said 2013 production at the site, which is located in the Ancona-Pescara basin in Italy’s Marche region, was 2.25million standard cubic metres (MMscf) and 15% above budget.
The firm said this production figure was achieved as a result of no lost time incidents.
Sound said the average production rate was 9,770 standard cubic metres per day, with total 2013 gas deliveries yielding revenue of around £470,000 – this equates to around £745,000 on an annualised basis.
The firm said it planned to produce a further 1.2billion standard cubic feet from the site over a 12-year period.