LONDON (ShareCast) - (ShareCast News) - Natural gas producer Saffron Energy clinched a production concession for its Sant' Alberto gas field in Northern Italy from the Italian government, the company reported on Tuesday.


According to the company, the Sant' Alberto production concession, awarded by the Italian Ministry of Economic Development, contained 2P reserves of 2bn cubic feet with production capability expected to peak at approximately 29,500 standard cubic metres per day.

Significantly, the Alberto licence would only require simple development, involving the installation of a modular gas processing facility and connecting it to the Italian national grid.

Completion of the development and first production were expected to take place during the first half of 2018.

Sant' Alberto would be Saffron's third granted production concession, alongside the EnergSillaro Gas field near Bologna, and the Bezzecca Gas field located near Milan.

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