Sound Oil (LON:SOU) has told investors that a gas sales deal has now been signed for the Nervesa gas field.
The agreement for the Casa Tonetto production concession, which hosts Nervesa, is with Shell Energy Italia.
Chief executive James Parsons said: “I am very pleased to report the signature of the gas sales agreement, which increases our exposure to Italian gas market and represents the first relationship with the Shell Group.”
Sound Oil also highlighted that the sales agreement includes a pricing mechanism that enables the company to manage its risk/reward balance.