By Anthony O. Goriainoff

Prospex Energy PLC said Tuesday that the operator of the Selva Malvezzi production concession--where it has a 37% interest--has signed a gas sales agreement, or GSA, with BP Gas Marketing Ltd, a subsidiary of BP International Ltd.

The London-listed energy investment company said that under the agreement BP Gas Marketing will purchase the forecast gas production from the soon-to-be-competed Podere Maiar-1 production facility in Italy.

The 18-month GSA will start on April 1 and has the potential to be extended, the company said. Prospex expects an estimated 37 million standard cubic meters of natural gas to be supplied under the contract, it said.

"First gas is still on track for early in the second quarter of 2023, on schedule and on budget," Chief Executive Mark Routh said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

February 14, 2023 04:17 ET (09:17 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Prospex Oil And Gas (LSE:PXOG)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Prospex Oil And Gas Charts.
Prospex Oil And Gas (LSE:PXOG)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Prospex Oil And Gas Charts.