At a glance
- 20% working interest
- Northern Adriatic
- 2017 production 290 boepd
- 100% working interest
- International arbitration commenced
- Hearing date set February 2019
- 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 continued to produce to forecast during 2017 and production over the period averaged 47,000 standard cubic metres (“scm”) per day net to Rockhopper (approximately 290 boe per day). Plant availability over the period continued to be strong with production from the side-track well drilled in 2015 continuing to make a material contribution to field production.
New static and dynamic models for the Guendalina field that incorporate new well data suggest the gas initially in place is larger than previous estimates with studies supporting a small increase in the estimate of ultimately recoverable volumes.
In addition, Rockhopper has worked closely with the operator throughout 2017 to reduce operating costs at the field primarily through optimisation of water disposal.
Ombrina Mare (Rockhopper 100%)
Following the decision in February 2016 by the Italian 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 tripod structure which had been constructed in 2008
with the intention of forming part of the future production facilities on the field.
The P&A operation was completed without incident in August 2016 using the Attwood Beacon rig. The
safe and successful decommissioning and removal of the tripod structure took place in October 2017 –
Rockhopper will seek to recover both the costs of the P&A operation and the tripod removal through the
international arbitration process, details of which are included in the Financial Review.
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. Eni is exploring options for the design of a well on the Monte Grosso prospect, whilst working in parallel to secure the necessary regulatory and permitting approvals to drill.