Oz Po Valley Moves Ahead with Italian Project

Australia-listed Po Valley Energy expects to start developing its flagship Teodorico gas project offshore Italy by early next year, it said July 31.

In the 2019 March quarter, Teodorico was granted the primary environmental approval. The company has now submitted additional requests for specific plans for water treatment and decommissioning.

“Po Valley hopes to complete the EIA process and obtain remaining environmental approval in 4Q 2019 or early 2020,” it said.

Italy-focused Po Valley has three assets: offshore Teodorico, onshore Selva (both gas), and the Torre del Moro oil/gas condensate exploration play.

In April, the company announced an increase in contingent and prospective resources for its majority-owned onshore Selva Malvezzi production concession, northeast of Bologna in northern Italy.