Our Italian assets are detailed below.

At a glance

Guendalina
  • 20% working interest
  • Northern Adriatic
  • 2019 production [ ] boepd
Ombrina Mare
  • International arbitration process ongoing
Monte Grosso
  • 23% working interest
  • ~250 mmbbl oil prospect (resource)
  • 23% chance of success

Guendalina, Italy (20% working interest)

Production decline at Guendalina continued to be broadly in line with expectations during 2019 with production over the period averaging approximately 30,000 standard cubic metres (“scm”) per day of gas net to Rockhopper (approximately 180 boe per day). Plant availability over the period continued to be strong with production from the side-track well in 2015 continuing to make a material contribution to field production. Efforts continue with the operator to manage declining production levels as well as reduce operating costs.

Monte Grosso, Italy (23% working interest)

Rockhopper transferred the operatorship of the Serra San Bernado permit (which contains the Monte Grosso prospect) to Eni during 2016. Since that time, options for the design of a well on the Monte Grosso prospect have been explored and work undertaken to secure the permits and approvals required to drill a well.

In February 2019, the Italian government introduced certain further changes to oil and gas law through the “Sustainable Energy Bill”. These changes include, amongst other things, a temporary suspension on exploration activities including the drilling of exploration wells. Discussions are ongoing between the Serra San Bernado joint venture partners to agree a forward plan.