A Wiltshire oil and gas company has been awarded €190m (£162m) in damages from the Italian government after the country cancelled an oil rig project.
Salisbury-based Rockhopper will receive the cash, plus substantial interest, from Italy over a decision in 2015 to ban oil exploration near its coastline. Rockhopper was planning to build a rig in Abruzzo - a southern region of the country - but local campaigners had objected to the proposals, claiming it would destroy the environment.
The AIM-listed firm, which is based at 123 Castle Street, brought its case against the Italian government under the Energy Charter Treaty (ECT) in 2017. The ECT is an international agreement that grants corporations in the energy sector the power to sue states through international investment tribunals if governments take an action that impacts profits.
