Insight
Italy's offshore ban threatens development of 440 mmboe
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Report summary
The Italian government has reintroduced restrictions on offshore oil and gas activity, as part of the 2016 budget passed in December 2015. The ban restricts exploration and development activity for non-producing projects within 12 nautical miles of the coast and is effective from 1 January 2016. The exact terms are not clear but if all non-producing projects are impacted this would comprise six companies, 12 projects and 440 mmboe of discovered resources. If discoveries on production licences remain exempt, six companies, five projects and 146 mmboe will be impacted. Major projects included in the ban are Ombrina Mare, Elsa and Panda. Eni and the government are both likely to be heavily impacted.
Table of contents
- Major projects impacted
- Companies stand to lose 1.9 billion in value
- Economic assumptions
Tables and charts
This report includes the following images and tables:
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Italy's offshore ban threatens development of 440 mmboe: Image 2Potential value loss by company and government for projects impactedItaly's offshore ban threatens development of 440 mmboe: Table 1
What's included
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