Australian listed oil and gas exploration, development and production company, Po Valley Energy Ltd (ASX: PVE), which has energy assets in northern Italy, has been granted the large onshore Torre del Moro oil exploration licence, located southeast of Bologna, in the eastern Po Valley region of Italy. Po Valley said the licence covers an area of 111km2 and contains a large, attractive oil exploration target. The licence has a six year initial exploration period. Its main exploration play is a Mesozoic carbonate structure with structural analogies to the ENI Villa Fortuna field (230 million bbls produced).
Archives for March 2017
March 2017
Spectrum concludes Santos Campos survey offshore Brazil
Spectrum has completed of the 17,700 km2 Santos Campos Ph.2 2D seismic survey offshore Brazil. Spectrum said the new acquisition program was an outboard extension of Spectrum’s 2012 Santos Campos Phase 1 survey, and ties other programs in the Santos, Campos and Espirito Santo Basins producing a continuous dataset covering the prolific pre-salt oil fields in these basins. The survey has been acquired with a 12,000m cable to record data necessary to understand basin architecture as well as to image prospective zones in the pre-salt section.
APPEA calls for gas rollout to slash Aussie emissions
Australia should seek to emulate the United States in slashing its emissions through increased use of natural gas for generating electricity. This was said by APPEA Chief Executive Dr Malcolm Roberts in his assertions that Australia was squandering an historic opportunity to significantly reduce emissions from the generation sector by switching to natural gas. “Energy-related emissions in the US in the first half of 2016 were at their lowest level since 1991, having fallen about 13 per cent since their peak in 2007,” said Dr Roberts. “The biggest reason for this dramatic fall is the increased use of natural gas.