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Slovenia Oil and Gas Report Q1 2014

Slovenia Oil and Gas Market: New market analysis released


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2014-02-10 00:20:02 - Slovenia Oil and Gas Report Q1 2014 - a new market research report on companiesandmarkets.com

There are glimmers of hope in the upstream oil and gas segment, with the Ascent-operated Petišovci tight gas scheme capable of improving near-term energy self-sufficiency and slowing the rate of growth in gas imports. However, overall volumes are likely to be relatively modest, with imported Russian gas set to dominate supply for the foreseeable future. Slovenia is opposed to proposals for an Adriatic LNG terminal that is backed by Italy. This puts the country at odds with EU energy policy in the region.

The main trends and developments in Slovenia´s oil and gas sector are:

- Independent explorer Ascent Resources has recorded promising results from fracture stimulation at its Petišovci tight gas project in Slovenia. Operations at the Pg-11A well indicate the

 

 

potential for high gas productivity. In November 2013 key contracts were signed between the explorer and its Slovenian partners, including a new joint venture agreement, as well as a new infrastructure and service agreement.

First production from Petišovci is expected end of 2014. The company has been particularly upbeat about the prospects of the project, with estimates of gas-in-place of as much as 17bn cubic metres (bcm). In February 2012, Ascent reported a 22% increase in P50 gas-in-place (GIP) volumes - to 14.3bcm, which was above the 11.7bcm previously announced for the scheme. The 200 square kilometre Petišovci area straddles the Hungary/Slovenia border and contains three depleted shallow conventional oil and gas fields.

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