Sound Oil signs funding deal with new engineering contractor

Sound Oil, an upstream oil and gas company with assets in Italy and Indonesia, has appointed Italian engineering company CSTI as its engineering contractor for the Rapagnano Gas Field, onshore Italy, and has also signed an associated funding contract with CSTI.

Sound Oil, an upstream oil and gas company with assets in Italy and Indonesia, has appointed Italian engineering company CSTI as its engineering contractor for the Rapagnano Gas Field, onshore Italy, and has also signed an associated funding contract with CSTI.

CSTI will undertake the surface and facilities engineering for the Rapagnano project and fund directly €0.5m (52%) of the total capital required for the development of Rapagnano, of which Sound remains the 100% owner. The funds will be used to pay for facilities equipment and related services.

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