For its 63% growth of Selva’s natural gas fields in Northern Italy which it plans to put into production this year, Po Valley Energy Limited (ASX: PVE) has secured the main environmental clearance.
For Selva Malvezzi Production Concession, which is the precursor to final signature by Decree of the Minister of the Environment, the Italian Ministry for the Environment has given formal environmental technical approval.
It also precedes the issuing by the Italian Minister of Economic Development of the required INTESA intergovernmental agreement as well as the final grant of the production concession.
Selva’s reserves of 13.3bcf (2P) have been secured by the project and PVE has secured a preliminary concession of production before the final development scheduled for this year.
Po Valley plans to build a fully automatic gas plant in its existing Selva / Podere Maiar 1dir well site during the initial phase of the development plan.
A 1-kilometer pipeline will also be constructed to link the well to the neighboring Italian National Gas grid.
Dynamic studies of the reservoirs allow the field growth of the sand supply in medium-high Pliocene sands of the Porto Garibaldi Formation at a daily rate of up to 150,000 cubic meters (5,3 mmscf) on successfully tested production levels C1 as well as C2.
PVE plans to complete the regulatory approval process by early this year in the other advanced project in northern Italy named Teodorico Offshore Gas Field Development.
The Teodorico field is the prime source for domestic gas output in the shallow waters of the northern Adriatic Sea in most of Italy and close to existing offshore gas production facilities on the east coast.
The priority of the Po Valley is to bring the low-cost fields in gas production, Selva Malvezzi as well as Teodorico.