Italy's southern Apennines on threshold of large oil development

Click here to enlarge imageItaly is still coming to terms with the existence of an estimated 1.02 billion bbl of recoverable reserves tucked beneath the rolling hills of its southern Apennines.The world's fifth largest economy and third-ranked user of hydrocarbons in Europe is currently less than 20% self-sufficient in energy, being heavily reliant on Libya and Algeria for its oil and gas supplies. Now Italy can lay claim to the largest onshore reserves on the continent considered to be Europe's most promising onshore development area. Furthermore, seismic data indicate that the major onshore producing sections in the Val d'Agri and Tempa Rossa fields, are also present offsh...

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