Australian gas producer Po Valley is seeking approval from the Italian government to develop a new high return gas field in northern Italy.
Image: Po Valley intends to develop new gas field in Italy. Photo: courtesy of Photo by Zbynek Burival on Unsplash.
The firm has submitted the production concession application, which covers the installation of a fully automatic gas plant with capacity to produce 150,000 cubic meters of gas a day at the Selva gas-field.
The field is located within the 331km² Podere Gallina Exploration Permit, which is located in the Po Valley region of Italy.
Po Valley operates the Podere Gallina Exploration licence with 63% stake while other partners include United Oil & Gas with 20% stake and Prospex Oil & Gas with 17% interest.
The field includes the Podere Maiar-1d appraisal/redevelopment well, where commercial gas discovery was made following testing operations of strong flow rates.
Po Valley said that the field has capacity to produce at 150,000 cubic meters of gas a day. It is also planning an extensional drilling and resource and production additions later this year.
Under the first phase of the development plan, Po Valley plans to install a fully automated gas plant at the existing Selva/Podere Maiar 1dir well site and run a 1km-long pipeline to connect with the nearby Italian National Grid connection.
In the second development phase, the firm will drill additional wells in the field’s highly prospective Selva East, Selva South Flank, and Riccardina prospects, all of which fall within the production concession application area.
Po Valley Energy chairman and CEO Michael Masterman said: “We are very pleased to formally submit the Production Concession application for Selva to the Italian Ministry and expect the submission to be considered for preliminary award at the Ministry’s July Hydrocarbon committee meeting.
“The plan outlines a highly attractive, high return natural gas field development from the existing production well.
“And that is just the first step. The production concession application area includes not only the Selva stratigraphic reservoir successfully drilled by Podere Miar, but also the highly prospective Selva East, Selva South Flank and Riccardina extensions – each of which has potential to significantly increase the size of the overall Selva development.”