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 plc (AIM:IRG), the oil and gas exploration and production company with a focus on the Mediterranean basin, is pleased to provide its first operational and production update for the third quarter of 2015. Highlights Joint Venture in Egypt - East Ghazalat (Western Desert) Quarte... Monday, November 23, 2015
Oil price Another short blog today, very little news around but the 3Q's are just around the corner particularly for the US oilfield service companies which will give us very important pointers as to the industry's cost base. The oil price arrested the fall but still ended up slightly weaker on th... Thursday, October 15, 2015
Nostra Terra (AIM:NTOG), an oil and gas exploration and production company with a growing portfolio of producing and exploration prospects, in a newly-formed joint venture with Independent Resources plc, is pleased to announce the completion of the acquisition of the 50 per cent. interest in the Eas... Thursday, October 15, 2015
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
All Independent Resources News
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