Highlights
- Australian-listed gas explorer PVE has successfully acquired all final approvals for gas production at its Podere Maiar-1 facility in Italy
- The company states this includes the finalisation of safety checks by UNMIG and the Fire Department
- Additionally, the Italian Energy Ministry has issued final approval, with PVE now set to begin production early next month
Po Valley Energy (ASX: PVE), an Australian-listed natural gas explorer with interests in Europe's Italy, has announced that it has successfully obtained all final approvals for gas production at its Italian based Podere Maiar-1 (PM-1) gas facility. The final safety checks -- by UNMIG and the Fire Department -- have been duly completed. Additionally, PVE has been issued the formal documentation by the Italian Energy Ministry (MASE).
Notably, the PM-1 facility is situated in PVE's Selva Malvezzi Production Concession, which is in Italy’s Po Valley region.
Source: Company update
More
All requisite approvals have been obtained by the ASX-listed company PVE to commence the gas production at the PM-1 facility located in Italy. Further, formal documentation has been signed and issued by the concerned ministry, the MASE.
Source: Company update
PVE notes that a mandatory period of eight days is needed to finalise all administrative matters ahead of beginning the gas production at the facility. It is expected that the production ramp-up at PM-1 will begin early next month.
Source: Company update
PVE shares traded nearly 11% higher at AU$0.071 at the time of writing on 28 June 2023.