Recent licence terms and the arbitration result by Rockhopper continue to underline Italy's credibility as a HC province, despite its growing need for energy.
August 29, 2022
Europe - Mediterranean
Onshore & Offshore
This POB was the north-western edge of the Gondwanan (African) continental plate in pre-Hercynian time until the assembly of Pangea. At least two other petroleum systems, with Triassic (Meride / Riva di Solto) and Miocene (Marnoso Arenacea) source rocks, contribute oil and thermal gas reserves (nearly 1bn boe) to the province. The major time of hydrocarbon expulsion of the thermal systems was Late Neogene during the Alpine and Apennine orogenies. Local Mesozoic oil expulsion from Triassic rocks also occurred, but those oils either were not trapped or leaked from faulty traps through time.
While underexplored, the governmental issues are likely to hamper any continued widespread development in the basin.
Source: ESRI, BGS, USGS & OGA data
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