ADX Energy Ltd advises that further to its ASX release on the 4th of February 2019, the Italian Parliament has approved the Bill to suspend oil and gas operations for 18 months to enable the government authorities to evaluate the suitability of exploration areas for sustainable hydrocarbon exploration and production activities.

As previously advised by ADX, the intention of the legislation is that the Ministries of Economic Development and Environment will review all areas in the Italian onshore and offshore territories to determine which are suitable for sustainable hydrocarbon prospecting, exploration and development activities. All areas will be assessed on the basis environment, social and economic suitability.

The precise wording of the new law will be available when published in the Official Government Gazette. This will occur once the President of Italy has approved and signed the new law at which time ADX will be able to better assess the precise impact in relation to its d 363C.R-.AX permit offshore Sicily containing the Nilde oil field.

KeyFacts Energy Italy country page   l   Link to ADX Energy Italy country profile