On 6 April PVE announced " ......it has received Environmental approval from the Italian Government for its Selva and Teodorico natural gas field production concessions in Northern Italy."
Perhaps a little bit surprising was the approvals were within the time frame expected by PVE, given the Italian bureaucracy's sometimes pedestrian approval processes.
Importantly, however, the Selva Malvezzi Production Concession development and preliminary work is now underway in preparation for gas production in mid-2022.
And the granting of full environmental approval for PVE's 100% owned Teodorico Offshore Gas Field Development is a step closer to the granting of a production concession.
Significantly, Teodorico has the largest gas-in-place of all of Po Valley’s gas fields and is at an advanced stage of assessment, ready for development.
Although it's still a waiting game for shareholders the future is brighter than it has been for a few years.
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