It paves the way for the final grant of a production concession by Italy's Economic Development Ministry
() has received formal technical environmental approval from the Italian Environmental Ministry for the development of the Selva Gas field.
It paves the way for the final grant of a production concession by Italy's Economic Development Ministry, the AIM-listed company said.
The latest analysis, published by operator () in December, reveal 14.1bn cubic feet of potentially recoverable resources and an additional 91.5bn cubic feet of prospective resources.
Drilling is targeted for this year, while there are plans to install a fully-automated gas plant as well as a one-kilometre long pipeline to connect the well with the national gas grid.
UOG holds 20% stake in the project, acquired via a farm-in agreement with Po Valley in 2017.
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