Project Profile
Value: Undisclosed
Location: Po Valley, Northern Italy
Production: 7.1 billion cubic metres
Reserves: Canolo (2C 1.2 bcf) and Zini (2C 3.0 bcf)
Area: unknown
Start-up year:
The contiguous exploration permits Cadelbosco di Sopra, La Prospera and Grattasasso, containing the former Correggio gas field, were awarded to the company in February 2011. A preliminary exploration assessment in 2009 of the former ENI Correggio gas field (gas produced: 7.1 billion cubic metres - 253 bcf), confirmed the presence of remaining gas potential in this area. The interpretation of a recently purchased package of 111 km of ENI 2D seismic lines, is being integrated with production history from 41 wells drilled by ENI in the past.
A static and dynamic reservoir study to assess the remaining Quaternary and Pliocene recoverable reserves of the area of the former Correggio gas field is being carried out by Dedicated Reservoir Engineering and Management (DREAM), an offshoot of the University of Turin. The first results have identified two promising Quaternary prospects, named Canolo (2C 1.2 bcf) and Zini (2C 3.0 bcf) as possible near term drilling candidates, while the evaluation work continuing for the Pliocene targets. The two licence areas also include the Ravizza and Bagnolo in Piano oil discoveries (previous estimates indicate potential recoverable volumes in order of the 5 mmbbls each). An evaluation to determine potential viability of both discoveries is underway. In Ocotber 2015, Po Valley Energy entered into an agreement with JV partner AleAnna Resources to sell PVE’s 75% interest in the fully awarded exploration license La Prospera.
Operators:
Cadelbosco di Sopra & Grattasasso
Po Valley: Operator with 75% interest
Petrorep: 15% interest
AleAnna Resources: 10% interest
La Prospera
AleAnna Resources: Operator with 85% interest
Petrorep: 15% interest
Contractor:
LP Drilling: Drilling contractor using LP Drilling’s hydraulic rig Corsair 300