By decree of 21 November 2017 the Ministry of Economic Development canceled the Masseria Montarozzo exploration permit held by Cygam Energy Italia in the Puglia region for non-fulfillment of contractual obligations. The company, whose Italian subsidiary was dissolved in November 2016 following its bankruptcy in 2016, failed to drill an exploratory well as required by the commitments of the permit. The effective date of the cancelation is 1 November 2015. Cygam Energy Italia was awarded the Masseria Montarozzo exploration permit on 11 October 2013 for six years. Commitments included the re-processing of 50 km of 2D seismic data in the first period and the drilling of a 1,400-m exploration well in the second period. The 155-sq km permit was located to the south-east of Foggia in the Bradano Basin. The main objective in the area is gas in Pliocene sandstones. Cygam Energy filed a voluntary assignment in bankruptcy in Canada in 2015. Cygam Energy Italia SpA was operating the Masseria Montarozzo exploration permit with a 100% interest.
Italy (Southeast Peri-Apenninic Foredeep Province) (It's a petroleum rights. Please summarize by yourself). In IHS database: Masseria Montarozzo op. by CYGAM EN (100.0%) to be check.