Po Valley Energy, the northern-Italy-focused gas and oil exploration and production company, was awarded a new exploration licence by the Ministry of Economic Development.
The new licence, ‘Tozzona’, is located at Emilia-Romagna in the provinces of Bologna and Ravenna, and covers an area of circa 90sq. km. The new permit is for an initial exploration term of six years.
The area lies along the eastern border of the existing ENI gas production licence containing the Santerno gas field (circa 35 bcf of gas produced to date). The main gas targets are the Mio-Pliocene reservoirs within structural traps.
The initial work programme includes the purchase of a semi-regional grid of 2D seismic lines from the former operator of the area, ENI.