PERTH, Australia – Italy’s government could suspend offshore exploration until next spring, said ADX Energy in its latest results statement.
The company operates the d 363C.R-.AX permit offshore Sicily that includes a proposed redevelopment of the Nilde oil field.
Work on the permit was halted following the decree on exploration in all approved offshore permits passed by Italy’s parliament in February 2019. This applied for 18 months, but the suspension remains in place due to the impact of COVID-19.
However, ADX has received informal notification from the licensing authorities that it has demonstrated sufficient financial capability for ratification of the permit on resumption of oil and gas activities, following a farm-in by SDP Services.
Off Tunisia, ADX suspended work on its Kerkouane permit last September, and the company is presently finalizing arrangements for withdrawal from operations in the country.