Po Valley pens Podere Maiar gas plant, pipeline deal
Australia’s Po Valley Energy has signed a construction contract with Italian engineering firm TESI to install a gas plant and pipeline for the Podere Maiar gas field in the Selva Malvezzi concession in Italy, it said on August 11.
TESI will construct a gas treatment plant on the site of Podere Maiar-1dir well and a 1 km-long pipeline for gas transportation from the well site to Italy’s national gas grid, with gas regulator SNAM to connect the pipeline to the grid. The cost of constructing the gas treatment plant and pipeline would be €3.45mn ($3.55mn) which is €130,000 less than previously forecast, Po Valley said.
Once installed, the gas plant capacity will be about 150,000 ft3/day and the pipeline capacity will be approximately 300,000 m3/day. Construction is scheduled to be completed in the first quarter of 2023.
Po Valley on August 10 announced it had received firm commitments to raise A$4.5mn ($3.13mn) via a share placement to develop the Podere Maiar gas field.
The Selva Malvezzi concession is owned by joint venture partners Po Valley (63%) and Prospex Energy (37%).