Rockhopper Exploration plc has received the full €31 million insurance arranged to protect the company against an unsuccessful outcome in the Ombrina Mare oil field arbitration. CLARITY In June, the company lost the second tranche payment in its dispute with the Italian Government, during proceedings at the International Centre for Settlement of Investment Disputes (ICSID). The arbitration […]
Tag: insurance
Rockhopper confident of €31m Italy insurance
Rockhopper Exploration plc could be in line for €31 million from its insurance policy relating to the Ombrina Mare arbitration. TRIGGER The dispute followed the Italian Government’s ban on oil and gas exploration within 12 miles of the country’s coastline, which affected the company’s activities in the oil field. Rockhopper took out insurance in October […]