ADX Energy, an oil and gas company, published a statement according to which the Italian Senate has passed a Bill to halt oil and gas exploration activities in permits that have been approved or are in the process of being approved. If the suspension is approved, it will be a period of up to 18 months, aiming to help authorities evaluate the suitability of the exploration areas for sustainable hydrocarbon exploration and production activities (The Plan).
Specifically, the bill is planned to be voted in Parliament on February 12, 2019 and if passed it will become a law.
It is intended under the proposed legislation 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 (“E & P Activities”).
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The areas will be researched based on environment, social and economic suitability.
Offshore areas will be considered on the basis of the potential effects on the ecosystem, as well as impacts on sea routes, fishing and potential interference with the coastal communities.
Areas considered suitable for E & P Activities will start activities. Also, if The Plan is not enacted within two years activities will resume.
According to the company
The d 363C.R-.AX permit offshore Sicily containing the Nilde oil field given its distance from shore (53 kilometers) and its location in a benign sea environment in terms of sea bottom carbonate banks and associated life forms and will be judged appropriate for E & P operations. In order to minimize the risk ADX has requested a reduction in permit area by approximately 55% to minimize perceived impact.
Also, the reduced area will comprise of the Nilde oil field, the Norma and Naila discoveries as well as the most prospective areas for future exploration.
On the other hand, ADX supports that The Plan may provide a more efficient framework for achieving environmental approvals for operations in pre-approved areas.
