Po Valley Energy completes ramp-up and commissioning of the Podere Maiar-1 gas facility

Po Valley Operations Pty Limited is the Operator of the Selva Malvezzi production concession with a 63% working interest, while Prospex has the remaining 37% working interest.

Highlights

• The four-week ramp-up and commissioning programme at the PM-1 production facility was completed during the week ending 04 August 2022.
• The ramp-up and commissioning process has concluded with slick line rig removal of data gathering memory gauges from the lower C2 production zone as part of a three-day scheduled shut down.
• Production at PM-1 has recommenced with forecast daily production levels of 72 000 cm³/d until all data analysis is complete.
• Gas produced during the ramp-up period is estimated to be approximately 1 800 000 cm³ with 100% of this gas sold to BP Gas Marketing under the 18-month supply agreement.
• Detailed analysis of well data is currently underway with results expected within three weeks.
• Further upside potential at the Selva Malvezzi Production as Po Valley Energy, the operator, intends to advance other projects within the concession.

Mark Routh, Prospex’s CEO, commented: “I am very pleased that Po Valley Energy has completed the ramp-up and commissioning process at the PM-1 gas facility of the Selva field. The final transition to ongoing production at PM-1 is underway which marks a major milestone for both Po Valley and Prospex. The ongoing production from PM-1 is an outstanding platform from which the Joint Venture can actively pursue the exploration and development of nearby lookalike wells.

“I would also like to take the opportunity to congratulate Po Valley Energy and their team on the ground, for the highly effective management of the start-up phase of the PM-1 gas facility during July. The necessary and prudent data acquisition programme of downhole pressures and temperatures has been completed and will be analysed in order to develop the optimum ongoing production strategy.

“We have now delivered a key step in the company's strategy to become a diversified energy producer with multiple producing assets principally in lower risk, onshore European markets with ready access to infrastructure. We are proud to be supporting the European Energy sector with producing assets in both Italy and Spain and look forward to updating shareholders on our continued progress.”

PVO announced early this morning that the ramp-up and commissioning phase of its PM-1 gas facility in the Selva Malvezzi Production Concession, located in the Po Valley plains of northern Italy, is complete.

The ramp-up and commissioning process progressed and concluded with a scheduled three-day shut down and removal of memory gauges from the lower C2 production zone. A slick line rig attended site during the last day of the shut-down period to complete this successful work programme with memory gauge removal and acquisition of pressure/temperature gradient data after which production at the PM-1 facility recommenced.

Analysis and understanding of data from the memory gauges removed from the well and pressure/temperature gradient are important data points for long term reservoir behaviour and determining associated production levels. This data is being analysed in order to determine optimal and long-term production levels. It is expected that this analysis will take approximately three weeks. In the interim period, stable production at PM-1 will continue at approximately 72 000 cm³/d.

Gas produced during the ramp-up period is estimated to be 1 800 000 scm, however, this amount is subject to final reconciliation with commercial stakeholders via standard commercial processes. PM-1 sold 100% of this gas to BP Gas Marketing under the 18-month gas supply agreement (announced on 14 February 2023).

The ramp-up and commissioning at PM-1 incorporated steady increases in volume starting at ~35 000 cm³/d moving to ~50 000 cm³/d. Thereafter, a step up in volume of 10 000 cm³/d occurred on a weekly basis with production in the final week at ~80 000 cm³/d prior to the scheduled three-day shut down.

With gas production commencing 04 July 2023 and ramp-up and commissioning concluding 04 August 2023, PVE and Prospex can look forward to initial gas production cashflows before the end of August 2023.

The company will update shareholders on the production rates in the coming months.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/07082023/po-valley-energy-completes-ramp-up-and-commissioning-of-the-podere-maiar-1-gas-facility/