The South East Asian energy company Coro Energy’s shares flew 5.6% to 0.47p on Wednesday following the company’s annoucement of resuming gas production at Sillaro.
Coro Energy is committed to spearheading the transition to a low-carbon economy in the South East Asia region.
On Wednesday, Coro Energy said gas production at Sillaro has resumed with is now producing at a stable rate of around 17k scm/d, with an average production rate of around 13.5k scm/d projected for 2022.
As stated earlier, Coro Energy said they expect to produce over of €5m annually in free cash flow from its Italian portfolio with Sillaro producing gas. The European gas market and current gas prices play in Coro’s favour.
Activities that improves production for the Italian portfolio is scheduled for 2022 and the company will make updates when needed.