Sound Oil, the Mediterranean focussed upstream oil and gas company, has announced that the Treviso Province authorities have approved the Environmental Impact Assessment ("EIA") for the second appraisal well of the Nervesa gas discovery.
It is expected that EIA final approval from the Veneto Region and the drilling authorisation from the Italian Ministry of EconomicDevelopment will follow with a view to beginning operations on site before the end of the year.
James Parsons, Sound Oil's chief executive officer, commented: "This is an important step for our business. Nervesa remains a flagship project for Sound Oil with an estimated NPV10 of circa US$66m (100%).
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