Po Valley Energy Limited (ASX:PVE) chairman Michael Masterman will update investors on the company’s Italian oil and gas strategy when he presents at this month’s Proactive CEO Sessions.
The popular luncheon events are on in Sydney on Monday, August 20, and in Melbourne on Tuesday, August 21, and there are still seats available.
Po Valley is an emerging oil & gas exploration and development company with an expanding portfolio of hydrocarbon assets in northern Italy.
Production concession application submitted
Its primary focus is on the Selva Malvezzi gas field which it is seeking to advance to full commercial production.
The company has submitted a production concession application to Italian officials after confirming a gas discovery at the Podere Maiar 1dir well.
Masterman said recently: “One of the great things about Italian gas, particularly in Northern Italy, is the gas price is very high, and the gas fields are almost rock throwing distance from the production wells.
“If you take Selva, we’ve successfully drilled the well, all the production equipment is downhole on the well.
“To develop this field we need to add a small gas plant of a cost of about 2.5 million on top of the production well.
“And then we just need to run a1000-metre pipeline to connect with the Italian National Grid.
“So we’re getting the full wholesale price of gas in Italy - which is very high - at the wellhead, and we move from exploration to production at a very low cost.”
The chairman will also explain progress on the Teodorico offshore gas field, for which it is targeting environmental approval by the end of 2018.
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Or call John Phillips on (02) 9280 0700
The Proactive CEO Sessions will feature five presenting companies in total.