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Additional Information
Market: ASX
Sector: Oil and Gas Exploration and Production
Epic: PVE
News: Latest news
Web Site: Po Valley Energy
Other Articles: 13-01-201021-12-200908-12-2009

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Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

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Right now, the world relies almost completely on China for its rare-earth supply. The Chinese have made it clear that they want to keep more supply for themselves as they try to be the world leader in green technology

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Po Valley Energy

Po Valley Energy

Po Valley Energy (ASX:PVE) is a leading independent gas company growing rapidly from quiet, results-driven beginnings. The Company currently operates exclusively in northern Italy exploiting the large hydrocarbon system, and it is on the verge of becoming a significant gas producer in the fast-growing and under-supplied Italian market as it brings its first fields into production.  

Po Valley's surface gas production plant at Castello in northern Italy has now been connected to the Italian pipeline grid. Under Po Valley’s gas marketing contracts gas from the Castello field will be metered and sold at the corner of the Castello site, implying no transportation costs and higher profit margin as a result.

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Tuesday, December 08, 2009

Po Valley Energy receives final authorisation for Castello gas production plant

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Po Valley Energy (ASX: PVE) has received the final approval by the Ministry of Economic Development to kick off production on the Company’s 100% owned and developed Castello gas production plant in northern Italy.

Key site visits and safety inspections at the Castello site by the Ministry and Fire Brigade officials were successfully completed over the past two weeks and now the Company has been granted approval on the final HSE document necessary to commence production activities.

“This is the final milestone we have been waiting for” Po Valley Chief Executive Michael Masterman said.

“Initial Commissioning of the Castello plant is complete and first gas into the Italian national network is expected during the course of next week.

"Plant installation at Po Valley’s second planned production contributor, the Sillaro field east of Bologna in northern Italy, remains on schedule with the plant 85% complete."

Commissioning is expected in January 2010.

 

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