Rockhopper Exploration today confirmed it would conduct an in-depth review for its Obrina Mare prospect offshore Italy, after the Italian government resurrected a 12 mile nautical ban on exploration.
The Italian Parliament approved the 2016 Budget Law, which contains a number of restrictions offshore oil and gas activity including the general ban on exploration and production activity within 12 nautical miles of the coast of Italy.
A similar ban was in place in 2010 before being voted down in 2012.
The new legislation came into effect on January 1.
Rockhopper focuses on exploration in the North Falkland Basin and Greater Mediterranean region.
A spokesperson said: “Rockhopper has been granted a 12 month extension to the suspension of the Ombrina Mare exploration permit to 31 December 2016.
“Ombrina Mare is located within the 12 mile limit and the Company is conducting an in depth review of this new legislation, how the exploration permit is affected and its impact on the Ombrina Mare project.”