Project Profile
Location: Basilicata Region
Reserves: 21 million cubic metres of recoverable gas (approx. 742 mmcf)
Production: 10,000 cubic meters/day (353 mcf/d or 59 boed)
Start-up year: 1Q 2015
The newly elected government of the Basilicata Region has recognized that increasing natural gas production will be a major key for economic growth. In this respect, the regional government has prioritized the file pertaining to the start of production of Canoel Canaldente Field. The Canaldente Field is estimated to contain 21 million cubic metres of recoverable gas (approx. 742 mmcf). Canaldente field was awarded to Canoel Italia by the Economic Development Ministry after the Company successfully presented a development plan during a technical competition of peers.
The Canaldente Field is expected to produce 10,000 cubic meters/day (353 mcf/d or 59 boed) and commencement of operations is expected during the first quarter of 2015. The field is expected to produce from two sandstone units. The first unit was assigned a GOIP of 30 million cubic metres (1,059 mmcf) and recoverable gas of 13.8 million cubic metres (487 mmcf), assuming a recovery factor of 46 %. The second unit (level B) was assigned a GOIP of 20 million cubic metres (706 mmcf) and recoverable gas of 6.7 million cubic metres (237 mmcf), assuming a recovery factor of 33%.
Operators:
Zenith Energy (formerly Canoel Italia): Operator with 100% interest