Global Petroleum Announces Hydrocarbon Plan in Italy

Source: www.gulfoilandgas.com 2/14/2022, Location: Europe

Global announced the judgement of the European Court in its favour, Global also noted the expected publication of the Hydrocarbon Plan for future exploration and development in Italy (“Hydrocarbon Plan”). The Company has been informed that the Hydrocarbon Plan (“PITESAI” in Italian) was published and came into legal effect on Friday 11 February.

Global and its advisers will undertake a detailed study of the Hydrocarbon Plan, with particular reference to the Company’s four permit applications in the Southern Adriatic (“Permit Applications”). The Company will also take further advice as to the process and timing for implementation of the Hydrocarbon Plan.

Having done so, the Company will assess its options in relation to the Permit Applications and make a further announcement accordingly.


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