Legal News Oil & Gas

Rockhopper-Italy to work jointly over €247m award

Rockhopper Exploration plc and Italy must work together over the €247m Ombrina Mare award, before the oil and gas explorer is allowed to take legal action. PROVISIONAL STAY The ICSID award relates to compensation from Italy’s ban on oil and gas exploration within 12 miles of the Italian coastline, which affected Rockhopper’s activities. In October […]

Legal News Oil & Gas

Rockhopper awaits ruling on Italy’s move over award

Rockhopper Exploration plc said today that the Italian Government’s request to annul the €247 million award relating to the Ombrina Mare oil field dispute is due to have its final hearing during Q1 2024. AWARD The award comprises €190 million plus accrued interest from January 2016 to August 2022. Interest was paused for four months following the […]

Legal News Oil & Gas

Rockhopper faces application to annul €190m award

Rockhopper Exploration plc said that the Italian Government had applied for an annulment of €190 million compensation for the company over the Ombrina Mare oil field dispute. APPLICATION In August the International Centre for Settlement of Investment Disputes (ICSID) arbitration held that Italy had breached its obligations under the Energy Charter Treaty. Rockhopper added that on 28 […]

Legal News Oil & Gas

Rockhopper awarded €190m in arbitration with Italy

Rockhopper Exploration plc has been awarded €190 million (£160m) compensation relating to the Ombrina Mare oil field dispute following the ICSID* arbitration with Italy. OUTCOME “The arbitration panel unanimously held that Italy had breached its obligations under the Energy Charter Treaty entitling Rockhopper to compensation,” added the company in a statement. “The award is final and binding […]

Legal News Oil & Gas

Rockhopper notes close of arbitration

Rockhopper Exploration plc said that it had been told that the proceedings related to the Ombrina Mare arbitration were closed on 25 April 2022. DAMAGES The International Centre for Settlement of Investment Disputes (ICSID) tribunal has 120 days after closing to issue its award, extendable by 60 days. Rockhopper is seeking damages based on lost […]