MELBOURNE, Feb. 23 -- Po Valley Energy Ltd., Perth, was awarded two new exploration permits in northern Italy covering one of the country’s largest former onshore gas fields.
The Cadelbosco adi Sopra and Grattasasso licences lie in the Moderna-Parma region and cover Correggio gas field, which was discovered in the 1950s by Eni SPA. Eni formerly owned the field, which produced in excess of 253 bcf of gas from stacked multipool reservoirs.
Po Valley is reevaluating the field using Eni’s production data as well as acquiring 3D seismic data to assess the potential for additional reserves within the Quaternary and Pliocene reservoirs.
The company has already identified two new gas prospects within the license areas—the Zini prospect and the Canolo prospect.
The two licenses also include former Eni discoveries at Ravizza structure and Bagnolo-in-Piano structure. Po Valley is assessing both for their development potential.