Mediterranean-focused explorer Sound Oil is looking to progress its Nervesa gas development onshore Italy following the arrival of a wellhead for the next drill.
The 5,000psi single completion wellhead will be used to spud the second appraisal well in the Southern limb of the Nervesa gas discovery.
The remaining long lead items, including a full set of casing, tubing and the liner hanger, have now also been ordered and are scheduled for delivery during September, the company said.
“Preparations for the second appraisal well on the 24billion standard cubic feet Nervesa gas discovery continue,” said James Parsons, Sound Oil’s chief executive.
“The arrival of the wellhead and the procurement of the long lead items positions us, from September 2014, to commence operations on site immediately once the permission to drill is granted.”
The discovery’s estimated present value of proved oil and gas reserves stands at a around $66million to Sound Oil, with first cash flows from the asset expected next year, the firm added.