Project Profile
Location: province of Bologna, Italy
Exploration start-up: Between 1955 and 1982
Production start-up: 2010
The Sillaro field is located in the province of Bologna and was originally explored by ENI between 1955 and 1982 with seven wells drilled in and around the structure. The field formerly known as Budrio was discovered in 1955. The field contains gas bearing zones in the Pliocene level at a depth of 2,100 metres. The deeper Miocene level, at a depth of 2,500 metres, was previously drilled by ENI and found to have a gas bearing reservoir. In July 2009, the Company drilled a second well (Sillaro-2dir) intersecting the Pliocene gas reservoirs designed to produce from multiple levels and to increase overall flow rates and optimise total field recovery. The field commenced production in 2010. Production started to decline in late 2014 and an in-depth technical and reservoir review identified and prioritised two core initiatives to increase production, revenue and profitability.
The work plan involves two phases:
Phase 1 - Recomplete Sillaro-2 to increase production to ~ 50,000scm/day
Phase 2 - Re-drill and side track the Sillaro-1 well to access the Miocene levels which is expected to increase production rates to ~ 80-90,000scm/day
Financing for the above is envisioned through the combination of a farm-out and equity. The Company is targeting to progress these initiatives in 2H2015 and 1H2016. In the meantime, rigless interventions and further studies on the reservoir have been carried out internally resulting in a significant increase to current production which is currently averaging ~ 35,000scm/day.
Operators:
Saffron Energy