First gas has been produced from the Guendalina field offshore Italy in the Mediterranean Sea.

London-listed project partner Mediterranean Oil and Gas (MOG) reported today that the Eni-operated field has now come onstream and it is forecast to significantly increase the company’s income: “In 2012, MOG’s share of gas sales at Guendalina is likely to be approximately three times the company’s last reported annual revenues of €3.49m for the year ended 31 December 2010.”

With 2P (proven plus probable) reserves put at 22 Bcf (4.5 Bcf net MOG) Guendalina is now producing 20 Mmcf/d with 4MMcf/day net to MOG.

Mediterranean Oil & Gas today announces commencement of gas production at the Guendalina gas field in Italy. MOG’s annual share of the revenues from the field are around triple the company’s reported revenues for 2010.

Image: MOG.