Italy 2017-04-25T15:24:28+00:00

Our Italian assets are detailed below.

At a glance

Guendalina

  • 20% working interest
  • Northern Adriatic
  • 2016 production 410 boepd

Ombrina Mare

  • 100% working interest
  • International arbitration commenced

Civita

  • 100% working interest
  • Onshore gas production
  • 2016 production 130 boepd

Monte Grosso

  • 23% working interest
  • ~250 mmbbl oil prospect
  • 23% chance of success

Guendalina (Rockhopper 20%)

Operated by Eni, the Guendalina gas field, located in the Northern Adriatic, has been in production since October 2011.

Guendalina has continued to produce to forecast during 2016 and production over the year averaged
68,000 scm per day net to Rockhopper ( approximately 410 boe per day). Plant availability over the year has been close to 100% and production from the side track well in 2015 continues to make a material contribution to field production.

The Rockhopper team have worked closely with the operator to look at more efficient and cost effective methodologies of produced water disposal which should have a significant reduction on field opex going forward.

Ombrina Mare (Rockhopper 100%)

Following the decision in February 2016 by the Ministry of Economic Development not to award the Company
a Production Concession covering the Ombrina Mare field, a decision was made to plug and abandon (“P&A”)
the existing OM-2 well and remove the tri-pod structure which had been constructed in 2008 and at that time
intended to form part of the future production facilities on the field. The P&A operation was successfully
completed without incident in early August 2016 using the Attwood Beacon rig, taking advantage of depressed
rig rates. The decommissioning and removal of the tri-pod structure is anticipated to take place during
H2 2017 and a fixed price contract for this work has been awarded.

Following the decision in February 2016 by the Ministry of Economic Development not to award the Company a Production Concession covering the Ombrina Mare field, in March 2017 the Company commenced international arbitration proceedings against the Republic of Italy. Based on legal and other expert opinions, Rockhopper has been advised that it has strong prospects of recovering very
significant monetary damages as a result of the Republic of Italy’s breaches of the Energy Charter Treaty. Damages would be sought on the basis of lost profits, with the arbitration process expected to take 2-3 years.

Civita (Rockhopper 100%)

Operated by Rockhopper, the Civita gas field located onshore Abruzzo, came into production in November 2015.

During 2016, production from the field averaged approximately 21,000 scm per day (approximately 130 boe per day). Gas compression was successfully commissioned at the site in December 2016.

Monte Grosso (Rockhopper 23%)

Operated by Eni, the Serra San Bernado permit which contains the Monte Grosso oil prospect is located in
the Southern Apennine thrust-fold belt on trend with Val D’Agri and Tempa Rossa, in the largest onshore oil
production and development area in Western Europe.

Monte Grosso remains one of the largest undrilled prospects onshore Western Europe. Rockhopper transferred the operatorship of the Serra San Bernado permit to Eni during 2016. It is hoped that the transfer of operatorship will accelerate the regulatory and permitting process to enable drilling.