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    Gas output at Coro Energy up 70% in Q2


Increase follows the March production restart at Italian onshore gas field Sillaro.

by: Callum Cyrus

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Gas output at Coro Energy up 70% in Q2

Coro Energy on July 27 reported a 70% quarter/quarter rally in gas production from its Italian upstream portfolio.

The London-listed independent, which also has operations in southeast Asia, said gas output rose to 1.6mn m3 in April to June from 945,100 m3 in the first quarter.

Coro Energy benefited from a production restart at the Italian onshore gas field Sillaro, which generally yields around 14,000 m3 of gas per day. Sillaro lies in an eponymous licence nestled in northern Italy's Emilia Romagna region, 30km east of Bologna. Coro Energy also extracts gas from the Rapagnano, Casa Tiberi and Casa Tonetto concessions.

Following the second quarter update, Coro Energy has "various production enhancement" plans under review that could boost Italian gas output further. The first such initiative is likely to involve reservoir interval reperforation at Rapagnano gas field later this year. Coro anticipates "continued momentum" in Italian gas prices into July 2022, meaning it stands a good chance of producing revenue growth as it enters the third quarter.