Mediterranean Oil & Gas PLC (AIM: MOG) said it has been advised that the Italian Ministry for Economic Development has approved the technical aspects of the company's application for production concession d30 BC MD, which covers its 100 percent-owned offshore Ombrina Mare oil and gas field.
Formal documentation from the ministry is expected shortly.
Approval from the ministry’s Committee for Mineral Research is a pre-condition to submitting the proposed development for environmental approval and a critical milestone in the approval process.
Mediterranean Oil & Gas said it is is well underway with preparing an environmental impact assessment study of the proposed development and now anticipates being in a position to submit the study to the Italian Ministry for the Environment during the next quarter.
It remains on its timetable for completion of the development approval process for the Ombrina Mare oil and gas field by the third quarter 2010.www.proactiveinvestors.co.uk
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