Northern Petroleum, Shell to acquire 3D seismic survey offshore Sicily

UK-based oil and gas exploration and production company Northern Petroleum has announced that, together with Shell Italia E&P, it will be acquiring a 3D seismic survey in their joint exploration area offshore Sicily.

Shell Italia E&P has said that it will fund the prospect defining program in the joint venture held thrust belt offshore western Sicily. The joint venture currently covers six offshore licenses, G.R17.NP, G.R18.NP, G.R19.NP, G.R20.NP, G.R21.NP and G.R22.NP covering a total area of 4,350sqkm in which a 2,300km 2D seismic survey was recorded earlier in 2009.

Under the terms of the farm-out agreement, Shell hold 55% in G.R17.NP, G.R18.NP and G.R19.NP; and 70% in G.R20.NP, G.R21.NP and G.R22.NP. Northern Petroleum will continue as the operator during the seismic phase and Shell will assume operatorship for the drilling phase.

Derek Musgrove, managing director of Northern Petroleum, said: "This progresses one of the most exciting areas for exploration and material growth for Northern as well as significantly increased expenditure.

"Shell brings to this venture experience of exploration and production in the southern Italy part of the same Apennine-Mahgrebian Thrust Belt where the major oil fields of Val d'Agri and Tempa Rossa have been developed."

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