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Alvopetro Announces Receipt of Environmental Permits to Commence Pipeline and Gas Treatment Facility Construction
Alvopetro Announces Receipt of Environmental Permits to Commence Pipeline and Gas Treatmen...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n\n\n\nAlvopetro Announces Receipt of Environmental Permits to Commence Pipeline and Gas Treatment Facility Construction\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 10, 2019\n\n\n\nCALGARY, May 10, 2019 /CNW/ - Alvopetro Energy Ltd. (TSX-V: ALV; OTCQX: ALVOF) announces that INEMA, the Bahia State environmental regulator, has issued the environmental installation permits required to commence the construction of our strategic midstream infrastructure (100% Alvopetro) underpinning the commercialization of our Caburé natural gas field (49.1% Alvopetro).  This midstream infrastructure includes an 11-kilometre transfer pipeline and the construction of a gas treatment facility (the \"Facility\").  All pipe for the transfer pipeline has already been shipped to the field staging area and our contractor is ready to commence field installation.  Our Facility is being constructed by Enerflex Ltd. whereby they will construct, own and operate the Facility.  Enerflex is responsible for all operations and maintenance of the Facility, and is warrantying the delivery schedule and on-stream performance of the Facility. Initial equipment for the Facility has been assembled, tested, and is ready for shipment to Brazil.  Alvopetro expects to start natural gas deliveries from the Caburé field in early 2020.  Our natural gas is being sold under our long-term gas sales agreement with Bahiagas, the local distribution company for the state of Bahia.\nCorey Ruttan, President & CEO, stated \"This is a very important development for Alvopetro, and the state of Bahia. These highly strategic midstream assets provide the platform to unlock the natural gas potential in Alvopetro's assets and more broadly in the Recôncavo Basin.  This is a transformational time for Alvopetro as we move toward commercial production and cash flow.  Our Caburé project, alone, has the ability to generate attractive returns for our shareholders while also providing the free cash flow to reinvest in our portfolio of hi...