Oil in Italy

Recoverable reserves76.3million tonnes

Production5.28million tonnes per year

Production ratio14years

Like France and Germany, Italy has a long history of oil production, albeit on a very small scale until the discovery of the Ragusa and Gela fields in Sicily in the mid-1950s. Subsequent exploration led to the discovery of a number of fields offshore Sicily, several in Adriatic waters and others onshore in the Po Valley Basin.

The Italian WEC Member Committee reports that proved recoverable reserves at end-2008 were 62 million tonnes (equivalent to approximately 434 million barrels), out of a remaining proved amount in place of 128 million tonnes. Recoverable reserves at lower levels of probability comprised 93 million tonnes (651 million barrels) of probable reserves and 104 million tonnes (728 million barrels) of possible reserves. The Member Committee also estimates that undiscovered in situ oil resources are in the order of 55 to 370 million tonnes (in round terms , some 400 to 2 700 million tonnes).

Note

Oil data represents Crude Oil only, for extra-heavy oil and oil shale please refer to the WER 2013 report oil chapter.