07:52 AM EDT, 03/13/2025 (MT Newswires) -- AleAnna ( ANNA ) said Thursday that natural gas production at its Longanesi field in Ravenna, Italy, will start in the near term.

Longanesi's first five wells contain net recoverable proved natural gas reserves of 17.3 billion cubic feet, net probable reserves of 10.6 bilion cubic feet, and net possible reserves of 10.7 billion cubic feet, according to an independent auditor cited by AleAnna ( ANNA ).

The company said it has identified several opportunities for expansion of the field, which could add an estimated potential 75 billion cubic feet to its existing resources.

AleAnna ( ANNA ) said it signed a multiyear gas sales agreement in December 2024 for its share of the Longanesi production with Shell Energy Europe.

AleAnna ( ANNA ) holds a 33.5% working interest in the field, with Societa Padana Energia holding 66.5% as its operator.