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Full Environmental Approval for Selva Gas Field
Full Environmental Approval for Selva Gas Field.
About this update from Prospex Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4599U\n Prospex Energy PLC\n 06 April 2021\n \n \n \n \n Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas\n \n \n \n \n \n Prospex Energy PLC ('Prospex' or the 'Company')\nFull Environmental Approval for Selva Gas Field\n \n \n \n \n \n Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, is pleased to announce that it has been advised by the operator, Po Valley Operations Limited ('PVO'), that full environmental approval for the development of the Selva Malvezzi Gas-Field ('Selva') in northern Italy has been received from the Italian Government. Full environmental approval paves the way for the grant of a full production licence from Italy's Economic Development Ministry. Prospex holds a 17% interest in the Podere Gallina licence which holds the Selva gas field.\n \n \n \n \n \n Full Production Licence\n \n \n The operator expects to submit the required documentation in support of its application for a full production licence for Selva during Q2 2021. This will include an application for an INTESA (intergovernmental agreement) between the regional and national governments, which is a standard development procedure for onshore gas fields in Italy. A preliminary gas Production Concession (80.68km²) was granted by the Italian Ministry for Economic Development in early 2019. \n \n \n \n \n \n The receipt of full environmental approval follows the approval of the Environmental Impact Assessment ('EIA') of Selva and subsequent sign-off by the Ministers of MITE (Ministry of Ecological Transition) and MIC (Ministry of Culture). The approval has been published on the official website. \n \n \n \n \n \n Selva Development Plan\n \n \n In tandem with the production licence application process, development and preliminary work has now commenced to prepare the field, which has gross gas reserves of 13.3bcf (2P), for production in mid-2022. Under the first phase of the development plan, a fully automated gas plant will be installed at the existing Selva/Podere Maiar 1dir well site along with a one-kilometre long pipeline to connect the well with the nearby Italian National Gas Grid. The planned Selva development has a small footprint of less than half a hectare. \n \n \n &n...