Sicily

Commentary

Recent appeal of the Rockhopper award by the Italian government underlines the extent of its disconnect from not only fair business practices, but the global nature of the oil & gas markets, further underlines Italy's credibility as a HC province, despite its growing need for energy.

Updated

June 18, 2024

Location

Description

Petroleum systems in the SOB is divided between the Neogene fold and thrust belt of the Sicilian accretionary prism and its foreland. The Majority of production has been established in the foreland on the Ragusa platform, where generally heavy oil from Triassic and Jurassic source rocks has been trapped in similarly aged fractured carbonate mound reservoirs. Commercial hydrocarbons in the fold belt, however, are limited to thermo- and biogenic gas-charged Tertiary reservoirs and questionably Tertiary-sourced oil offshore to the west. These all currently are viable exploration plays.

Summary

While underexplored, the governmental issues are likely to hamper any continued widespread development in the basin.