Sound Oil, the European- and Mediterranean-focused upstream oil and gas company, has announced the approval of the environmental impact assessment for the award of the D503-BR-CS permit, covering Sound Oil's Dora and Dalla assets in the Adriatic Sea.
D503 BR-CS is an offshore license in the central Adriatic and includes the Dora gas discovery and the Dalla exploration prospect. In the recently completed CPR the license was estimated to have a mid-case NPV10 (net present value discounted at 10%) of US$74.1 million (Euro 66 million).
Award of the D503-BR-CS permit is expected to follow.