Sound Oil, the Italian focused upstream oil and gas company, announces that it has been advised by the Italian Ministry of Economic Development that it has immediately re-opened the Company's applications for two of its offshore permits; d150DR-CS (containing the Laura gas discovery) and d148DR-CS, both located in the Gulf of Taranto, southern Italy.
These two permit applications had previously been withdrawn by the Ministry in August 2011 in compliance with the environmental decree 128/2010 enacted in June 2010 (which was preventing oil and gas activity within a 5 nautical mile radius of the Italian coast). A new Law 134/2012 gazetted in August 2012 reverses this previous restriction.
Source: Sound Oil
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