Highlights

• The four-weeks ramp-up and commissioning programme at the Podere Maiar – 1 production facility (PVE 63%) completed during the week ending 4 August 2023
• A seamless ramp-up and commissioning process has concluded with slick line rig removal of data gathering memory gauges from the C2 production zone as part of a three-day scheduled shut down
• Production at Podere Maiar – 1 has recommenced with forecast daily production levels of 72,000 standard cubic metres per day (scm/d) until all data analysis is complete
• Gas produced during the ramp-up period is estimated to be approximately 1,800,000 scm with 100% of this gas sold to BP Gas Marketing under an 18-month supply agreement
• Detailed analysis of well data is currently underway with results expected within 3 weeks

Selva Malvezzi Production concession

Po Valley Energy today announced that ramp-up and commissioning of its Podere Maiar – 1 (PM-1) gas facility in the Selva Malvezzi Production Concession, located in the Po Valley plains of northern Italy, is complete.

The ramp-up and commissioning process has progressed in a seamless manner and concluded in a scheduled three-day shut down and removal of memory gauges from the C2 production zone. A slick line rig attended site during the last day of the shut down period to complete this successful work programme with memory gauge removal and acquisition of pressure / temperature gradient data after which production at the PM-1 facility recommenced.

Po Valley Chairman Kevin Bailey said: 
“We are delighted to have completed the ramp-up and commissioning process at our PM-1 gas facility. The final transition to ongoing production at PM- 1 is underway and this is a major milestone for Po Valley. The ongoing production from PM-1 is an outstanding platform from which the company can actively pursue the exploration of nearby lookalike wells.

We are fortunate to have an exceptionally experienced team working on-site in Italy. Their commitment and dedication will continue to drive our success as we move forward to fulfill our broader strategic goals. We look forward to continuing to support the Italian Energy sector and economy well into the future.”

KeyFacts Energy: Po Valley Energy Italy country profile