The company's core activities are the development of a major underground gas storage facility, together with upstream assets in Italy and North Africa. The directors believe that the potential for integration and leverage between these storage, exploration and production projects provides the foundation on which to build a profitable, relatively low-risk, high-value business.
Rivara underground gas storage facility
Independent Resources plans to construct a large underground storage (UGS) facility by storing natural gas in a deep, naturally fractured reservoir in Italy's Po Valley. The Rivara project has been granted a provisional long-term concession by Italy's Ministry of Economic Development (MSE) which is subject to completion of a satisfactory environmental impact assessment and final approval by MSE. MSE and Italy's gas markets regulator (AEEG) are eager to encourage new gas storage capacity in the country to alleviate the well-documented deficit in this sector of the gas supply chain which is a matter of public interest.
Latest Independent Resources News
Independent Resources and Nostra Terra, which are both party to a 50:50 JV with the express purpose to acquire E&P assets in North Africa, have agreed to acquire TransGlobe's East Ghazalat concession in Egypt. TGA holds a 50% working interest in East Ghazalat, for which the JV is to pay $3.5m. This ... Wednesday, October 7, 2015
On 21 September 2015 IRG announced the intention to establish a strategic joint venture company owned 50-50 with Nostra Terra Oil & Gas Company plc focused on the acquisition of producing assets in the North Africa region. IRG and Nostra Terra are pleased to announce that it has reached agreement w... Tuesday, October 6, 2015
Oil price So much for thinking that crude might finish in positive territory on the week, WTI did, only just by 5 cents but Brent was down $1.57 on the period. That was partly due to the physical market, traders are saying that the North Sea market is awash at the moment and also that WTI was bette... Monday, September 21, 2015
Independent Resources is pleased to announce the signing of a strategic joint venture agreement with Nostra Terra Oil & Gas plc, an AIM company with a portfolio of producing interests in the USA and a similar strategic intention to that of IRG to invest in producing or near-production assets in Nort... Monday, September 21, 2015
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Independent Resources is pleased to announce that following the integration of the recently completed Scotforth Limited remote sensing hydrocarbon survey ('RSDD-H') with existing 2-D seismic and well data, the Company has identified two new substantial leads in the prolific Acacus play prevalent in ... Thursday, September 17, 2015