Exploration, development prospects brighten in Italy

Five Provinces of Italy's Valley Region [153,593 bytes] Removal last year of Italian state firm ENI's monopoly in the prolific Po Valley play provides one of the best opportunities to gain access to prospective acreage in southern Europe, said Wood Mackenzie Consultants Ltd., Edinburgh. Italy's government is reviewing applications made by ENI for licenses in the Po Valley area and intends to offer to other petroleum companies any licenses not awarded to ENI. By yearend 1997, ENI had drilled more than 1,000 exploratory wells in the area and discovered several major oil and gas fields. Cumulative production to date amounts to 165 million bbl of oil and 6...

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