Ascent signs key contracts in Slovenia
Ascent Resources, a European oil and gas exploration and production company, has signed a series of key agreements with its Slovenian partners, for the commercial development of its Petišovci gas field. Ascent's partner in the Petišovci joint venture is Geoenergo, which is owned in equal parts by Petrol dd and Nafta Lendava doo.
These includes a revised joint-venture agreement aimed at simplifying the relationship between the partners and removing the issue of consents that had thwarted previous attempts to secure project finance. An infrastructure agreement with Petrol Geoterm to facilitate the construction of the plant to process hydrocarbons for the Slovenian domestic market was also signed. A service agreement was also signed with Petrol Geoterm to oversee the processing of hydrocarbons and their transmission to the national grid.
These agreements are the culmination of months of close cooperation amongst the partner group and lay a solid foundation for an effective future working relationship.
With these agreements in place, the company has resolved the longstanding problems with consents and can now move forward with finalising project finance and bringing Petišovci into production next year.