Australian gas producer, Po Valley Energy announced that its 65% owned AIM-listed subsidiary, Saffron Energy, has received the final approval from the Italian Ministry of Economic Development for gas production at the Bezzecca gas field.
Commissioning and gas production will commence over the next days. Bezzecca is located east of Milan within the established prolific, gas producing Po Valley region in northern Italy. Gas from Bezzecca1 is processed at the Vitalba processing plant and directly connected to the national grid.
Chairman of Po Valley Energy, Michael Masterman said, "It is extremely exciting to announce the first gas at Bezzecca, as it represents a significant financial milestone for Saffron coming within seven weeks of the successful IPO. It will significantly increase the overall gas production and strengthen Po Valley and Saffron’s position and portfolio.”
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week