New Irish oil company buys stake in Italian field

United Oil & Gas sees potential 17 billion cubic feet of natural gas under Po Valley

7th May, 2017

Irish exploration company United Oil & Gas has acquired a 20 per cent stake in an Italian oil field.

The company has entered into a conditional agreement with Australian-listed exploration company Po Valley Energy to buy a part of the Podere Gallina licence in northern Italy.

This is the second licence to be acquired by United since it was founded, with its first located in the Wessex Basin in southern England.

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