Ascent Resources makes solid progress at Petisovci in Slovenia

Europe-focussed oil and gas exploration and production company Ascent Resources updated the market on progress with its Petišovci project in Slovenia on Friday, reporting that the installation of the necessary infrastructure to accommodate export production had now been completed.

The AIM-traded firm said the operational certificate had been received for the pipeline from the CPP to the export line.

It also reported that refurbishment of the separation equipment at the CPP had completed, with the refurbished separator installed and connected to the existing plant.

To complete testing, the company switched the current flow of gas from Pg-10 through the refurbished infrastructure on Friday morning.

That gas would continue to be sold locally during testing.

“Our customer, INA, has received initial positive feedback from the authorities in relation to the re-certification of its pipeline on the Croatian side of the border,” Ascent’s board explained.

“The authority has asked for clarification on a number of points which we have been advised should be completed shortly.

“Once the re-certification has been finalised production of gas to INA will commence.”

At well Pg-11A, Ascent said the service company - which had been contracted to complete the operations at the well - arrived on-site on 1 August after procuring the required tooling.

Ascent said it had made “good progress” over the past few days and would provide a further update in due course.

Once that final operation was complete, the well would be connected through to the CPP via the flowline which had already been constructed.

“We are pleased that the infrastructure to produce is now ready and that the recertification on the Croatian side of the border is moving towards a positive conclusion,” commented CEO Colin Hutchinson.