Ascent Hopeful of Slovenian Permits
AIM-listed small gas producer in Slovenia, Ascent Resources, said August 9 it has been assured by authorities there that permits needed for a new gas process plant will be issued in final form by October 2018.
The new permits are required to enable Ascent, and its partners in Slovenia, to construct a processing plant adjacent to the Petisovci gas field near Lendava in Slovenia.
Ascent says the new plant is required for phase two of the development plan, and an anticipated increased production from the field. Ascent is currently exporting production (raw natural gas) from the first two wells, Pg-10 and Pg-11A, via a short export pipeline to INA in Croatia. Average monthly production from these wells over the first nine months of export production has been between 1.0 and 2.4mn ft3/d.
"It would be more economic to treat these through a facility in Slovenia," said Ascent, instead of routing it to Croatia. Slovenia is currently reliant on gas imports, largely from Russia and (via Italy) Algeria.
Ascent said the permit was first applied for in mid-2014 and awarded in preliminary form six months later, but that the regulatory process slowed thereafter, with the Slovenian courts dealing with "repeated appeals against the permit by one particular non-governmental organisation." UK-based Ascent put itself up for sale in April but has not since made any related definitive announcement. In July, it extended its gas sales contract to Croatia's INA until May 2019.