The San Teodoro concession is located in the province of Matera in the Basilicata region.
Geologically, the concession is situated in the Bradanic foredeep, a narrow basin confined at the west by the allochthonous Apenine massif and at the south by the Apulian platform. The area is characterised by a strong sedimentary accumulation of the Plio-Pleistocene period up to a depth of 3000m. The overlaying lithology, comprised of shales and sandstones combined with the structural geometry, presents optimal conditions for the development of hydrocarbon deposits, where the shaly horizons play the dual role of source-rock and seal, and sandy levels become potential gas bearing reservoirs.
The San Teodoro 1 Dir well was drilled in 1988 and placed on production in 1991. Production was interrupted in 2003 due to sand and water entering the wellbore. A sidetrack of the well was attempted in 2003 which resulted in the creation of a second wellhead named ‘San Teodoro Dir A’. The sidetrack was a limited success and unable to reach the main level.
Zenith’s Italian subsidiary acquired a 100% working interest in 2013 and is the operator of this concession.
The Company expects to successfully increase natural gas production after well re-completion work is undertaken in 2018.
The San Teodoro well produces methane gas (99 %).
In the most recent reserves assessment, carried out in December 2016, recoverable remaining proved and probable reserves (2P) have been assessed as approximately as 0.7 BCF
The upper level (MP-1/B2) is expected to produce 0.12 BCF in four year and the lower level (MP2-A) will produce 0.58 BCF in six years.
|Location||Matera, Basilicata region|
|Expiry||2019 (10 year renewal application submitted)|
|Working Interest||100% Canoel Italia|
|Reserves (2P)||0.7 BCF|