The Italian Environment Ministry has granted formal technical environmental approval for Selva Malvezzi Production Concession, which is a precursor to final sign off by Environment Minister decree.
It also precedes issuing of the required INTESA intergovernmental agreement and the final grant of a production concession as issued by Italy’s Economic Development Ministry.
Selva project has gas reserves of 13.3bcf (2P) and PVE has already secured the grant of a preliminary production concession ahead of final development, which is slated for this year.
Under the first phase of the development plan, Po Valley intends to initially install a fully automated gas plant at the existing Selva/Podere Maiar 1dir well site.
The company will also install a 1-kilometre long pipeline to connect the well with the nearby Italian National Gas Grid.
Based on dynamic reservoir studies, the field development is designed to produce at a daily rate of up to 150,000 cubic metres (5.3 mmscf) from successfully tested C1 and C2 production levels in the Medium-Upper Pliocene sands of the Porto Garibaldi Formation.
At the company’s other advanced northern Italian project, the Teodorico Offshore Gas Field Development, PVE expects to complete the regulatory approval process early this year.
The Teodorico field is in shallow waters of the northern Adriatic Sea, the primary source of domestic gas production for much of Italy, and in proximity to existing east coast offshore gas production facilities.
Po Valley’s priority is very focused on bringing the low-cost Selva Malvezzi and Teodorico fields into gas production.