Tuesday, 4 August, 2009 - 09:16
Po Valley relinquishes Italian oilfield
Perth-based Po Valley Energy has relinquished an application over a prospective oilfield in Italy following environmental concerns from locals.
Michael Masterman
Chair / Windlab
Michael Masterman is a co-founder of Po Valley Energy. He became executive chair and chief executive of PVE and Northsun Italia SpA in 2002 and resigned in October 2010 to take on an executive role with Fortescue Metals Group. He has been the chief executive of FMG's Iron Bridge, chair of Squadron Energy, and chief financial officer of Fortescue Future Industries from October 2020 to March 2022.
Prior to joining PVE, Mr Masterman was chief financial officer and executive director of Anaconda Nickel (now Minara Resources) where he oversaw the financing of the US$1 billion Murrin Murrin Nickel and Cobalt project in Western Australia, involving the negotiation of a US$220m joint venture agreement with Glencore International and the raising of US$420m in project finance from a US capital markets issue – the first of its kind for a green fields mining project.
