Po Valley awarded a new high potential gas exploration licence

7/24/2013

Po Valley awarded a new high potential gas exploration licence

Roma -- Po Valley Energy the northern Italy focused gas and oil exploration and production company, announces the full award of a new exploration licence by the Ministry of Economic Development.

The new licence, "Tozzona", is located in Emilia Romagna, in the provinces of Bologna and Ravenna, and covers an area of 90 sqkm. The new permit is for initial exploration term of six years.

The area lies along the eastern border of the existing ENI gas production licence containing the Santerno gas field 35 Bcf of gas produced to date. The main gas targets are Mio Pliocene reservoirs within structural traps.

Initial work programme includes the purchase of a semi regional grid of 2D seismic lines from the former operator of the area, ENI.

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