CMI Energia, the Italian subsidiary of Avanti Energy, has submitted its development plan to the Ministry of Economic Development for the onshore Colle Santo block.
The plan focuses on shifting the gas treatment plant away from the gas field in favour of an established industrial zone 21km north.
Over the past year, a team of Italian engineers led by CMI’s technical partner Olimar were assembled to work on the Colle Santo project. The work included pipeline, process and production.
TEA Ambiente, Ediltop, Dream, Libra Engineering, and TEA Sistemi were part of the team.
MI Energia managing director Mark Frascogna said: "The formal submission of the development plan for Colle Santo represents a significant milestone in the evolution of the project and firmly places the company on a path to fully realising the potential of this important asset."
Avanti Energy president and CEO Karl Kottmeier said: "The new development plan represents a significant body of work and substantial improvement to that submitted in 2011 by the former owner, Forest Oil.
"Avanti has taken the concerns of local and regional stakeholders firmly into consideration and incorporated them into this new, logical and financially compelling development plan."
The Colle Santo project is located in central Italy and comprises 72.7 bcf of gross proven undeveloped and an incremental 12.0 bcf gross probable undeveloped gas reserves.
Avanti has also identified an extension to the Colle Santo field that has potential to expand the existing reserves.
CMI operates the project and owns a 90% working interest along with its partners.
