A google search shows the 59 F.R.-NP is a 730.75 sq km block in...

A google search shows the 59 F.R.-NP is a 730.75 sq km block in the Ionian Sea. The permit appears to have been granted to Northern Petroleum on 1/4/05.

http://www.northpet.com/operations/italy/italy-detail-d59frnp.html

The only mention of Key's involvement in this block appears in the article posted earlier:

http://www.staffettaonline.com/staffetta_news/articolo.aspx?id=8412

Given the lack of announcement about this and with no details included in Key's latest presentation I can only presume the above article stuffed up.