Italy: Nothern Petroleum Completes Southern Adriatic Seismic Survey

Northern announces that on 29th November 2011 it completed a 600km 2D seismic data acquisition in offshore Southern Adriatic, Italy. The survey covered two licences – F.R39.NP & F.R40.NP. Seismic acquisition commenced on 23rd November 2011 using the vessel ‘M/V Princess’ contracted from CGGVeritas S.A and was completed within the prescribed six-day period.

The seismic acquisition is part of the work programme being funded by Northern. The aim of the programme is to obtain more complete and better quality data to upgrade definition of the encouraging prospects identified from older seismic  surveys. A further 3D seismic is planned in 2012. The wait is for necessary approvals from all the relevant authorities. The 2D survey was acquired without any incidents or accidents and with the minimum of disturbance to the local fishing industry, which was highly cooperative at all times. In its operations Northern adhered to all Italian environmental requirements.

As announced on the 25th March 2011, Northern signed an agreement with Azimuth Limited (“Azimuth”) a specialist global E&P involving Italian permits F.R39.NP and F.R40.NP which contain the Rovesti and Giove oil discoveries and ten mapped prospects. The objective of the agreement is to work with Azimuth to define and delineate suitable appraisal and exploration drilling targets. Azimuth will become a 15% interest partner in both permits by funding a promoted share of future work programmes prior to the drilling phase.

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Offshore Energy Today Staff, December 6, 2011