Australian gas producer, Po Valley Energy, (ASX: “PVE”) is pleased to announce its 65% owned AIM-listed subsidiary, Saffron Energy (AIM:SRON) has received final approval from the Italian Ministry of Economic Development (UNMIG) for gas production at the
Bezzecca gas field.
Commissioning and gas production is scheduled to commence on the coming days. Bezzecca is located east of Milan within the established prolific, gas producing Po Valley region in northern Italy.
Gas from Bezzecca1 is processed at the Vitalba processing plant and directly connected by the national grid.
Chairman of Po Valley Energy, Mr Michael Masterman, commented: “It is extremely exciting to announce the first gas at Bezzecca, as it represents a significant financial milestone for Saffron coming within seven weeks of the successful IPO.
It will significantly increase the overall gas production and strengthen Po Valley and Saffron’s position and portfolio.
Po Valley’s Bezzecca field transmisison piping ready to be installed
Po Valley gets Bezzecca first gas go-ahead
Posted by | 17/04/2017
