Mediterranean-focused Sound Oil has won two gas sales contracts for fields in Italy, the company has announced.
The upstream oil and gas group has been awarded the contracts in relation to the Badile drill site.
Sound Oil will carry out work at the Rapagnano gas field with Steca Energia and believe the agreement will deliver an average price of $9.8Mscf (per thousand standard cubic feet per day).
A 12 month gas sales agreement has also been awarded in the Casa Tiberi gas field with Prometeo SpA.
The company expect a fixed price deal of $9.9Mscf until September next year.
Sound Oil announced in August the purchase of a 59,140 square metre plot of industrial land in the Lombardy region of Italy for $1.8million.
The land will host the drill site for the initial Badile exploration well and for all other production wells required to exploit the discovery.