Irish oil and gas company
Petroceltic has formally given up seeking a prospecting permit
in the southern Adriatic Sea off Italy's Tremiti Islands.
The Tremiti are an archipelago located north of Puglia's
Gargano Peninsula, and form part of the Gargano national park.
Market conditions have changed since the company first
filed for the permit nine years ago, Petroceltic said in a
letter to the industry ministry.
The ministry said the move "is a step back in response to
strategic industrial needs, which the ministry acknowledges".
Petroceltic, whose local subsidiary has been in Italy since
2005, added it remains committed to its other operations in
Italy "within full respect of EU and State rules, according to
the highest industry standards, with maximum transparency and in
cooperation with local communities".
Petroceltic Italia Srl does oil and gas prospecting in the
central Adriatic Sea and in the Po Valley.
Italian environmentalists have long been fighting against
drilling in the Adriatic Sea.
Italy's Constitutional Court last month gave the green
light to a referendum on drilling for oil and gas in Italy, a
decision welcomed by regional councils and environmental groups
concerned about the effects of offshore drilling on marine
ecosystems.
The referendum will cover prospecting permits as well as
already authorised drilling. It was proposed by regional
assemblies who are objecting to drilling platforms because of
worries about seismic stability and the environment.
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