UK-listed oil and gas
production and exploration company Ascent Resources said on Wednesday it has
received a provisional Integrated Pollution Prevention and Control Permit from
Slovenia’s Environmental Agency for the installation of a gas gathering and
separation station (GGSS) at its Petisovci field.
Once the permit is declared legally valid, following a 30 day appeal period,
the company will be able to commence procurement and construction for the tight
gas project and related infrastructure, Ascent said in a press release.
The GGSS will enable the company to process the gas produced from its two
existing wells to a quality acceptable for the national grid network in
Slovenia.
"This is a major step forward in the development of the Petisovci project.
The award has been made after many months in-depth consideration by the
Slovenian authorities of all the issues in the development of the project
including detailed submissions from objectors to the project,"Clive
Carve, chairman of Ascent Resources, said.
Earlier this year, Ascent secured with Henderson Global Investors Limited a 7
million British pound ($11 million/9.8 million euro) loan facility to help fund
the development stage of the project.
The Petisovci project lies in the northeastern corner of Slovenia between
Hungary and Croatia. Ascent is the operator and its joint venture partner on
the project, Slovenia's Geoenergo, is the concession holder. Based on the
regional 3-D seismic, the project area contains substantial tight gas reserves
as well as shallower conventional oil and gas.
Source: SeeNews
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