Dubai Energy Partners Inc. (DEPI) has conditionally agreed to acquire the Italian natural gas production and exploration portfolio of Coro Energy PLC, London, for €300,000 cash.

Coro’s Italian portfolio consists of 100% working interests in four producing natural gas concessions: Sillaro, Rapagnano, Casa Tiberi, and Bezzecca, as well as one production concession which is development ready, S. Alberto. Two exploration concessions, Laura and Santa Maria Goretti complete the portfolio.

The conditional sale and purchase agreement comes nearly a year after the termination of an agreement with Zenith Energy Ltd. for the assets as doubts of a successful completion ahead of the Oct. 31, 2020 long stop date arose (OGJ Online, July 31, 2020).

Coro Energy intends to focus on a low-carbon and renewable energy strategy in South East Asia.

DEPI was founded in the USA and is an international oil and gas company focused on the acquisition of undervalued producing, and shut-in, oil and gas fields.

From  OGJ editors