The Masseria Acquasalsa concession is located in the province of Foggia in the Puglia region.
2 wells have been drilled in the contract area: Palmori 1 and Palmori 4.
The Palmori 1 well was drilled in the 1976 and ceased production in 1999. The Palmori 4 well was drilled and began production in 1995.
The Company acquired a working interest of 8.8% in the Masseria Acquasalsa concession in 2013.
Production has been suspended since 2016 due to problems with the local natural gas distribution infrastructure.
Zenith is a minority partner in this concession and is evaluating, together with its energy production partners, what progress can be achieved to restore commercially viable production activities.
The cumulative production of natural gas at this concession has been assessed as approximately 5.07 BCF.
The most recent reserves assessment, carried out in March 2017, assessed proven recoverable natural gas reserves (1P) of approximately 0.03 BCF.
|Location||Foggia, Puglia region|
|Working Interest||Gas Plus Italiana (Operator)||46.03%|
|Canoel Italia S.R.L.||8.8%|
|Reserves (1P)||0.03 BCF|