(Finance) – Italy could produce more than half of its oil needs in the span of 5-10 years, unlocking long-standing projects, thanks also to new extraction technologies, and freeing themselves from imports, which today amount to 68 million tons. He states it Michele MarseillePresident of Federpetroliin an interview with Il Sussidiario.net.
Recalling that Italy is not very dependent on Russian oilof which it matters “a negligible share” of just 5 million tons, Marseille explains that one is emerging redistribution of shares oil at an international level, since the countries that import larger shares from Russia “have automatically moved to other supply locations”. As for the gasthe President of Federpetroli explains that currently we buy 95% abroad of gas and we produce only 4.7%, so there is a situation of import dependency.
“Foreign sourcing is importantit is right to enter into agreements, because no state has within it all the quantities and qualities of crude oil or gas available “, underlines Marseille, stating however that”agreements must be signed at a maximum of 50%and not like us for almost 90% “since” over the years we have had problems with Russia, with Libya, with Saudi Arabia “.
“If it goes to full capacity within 5-10 years, Italy can produce 54% of its oil and gas needs. With new technologies – he says – not only in Basilicata and Lombardy, but in almost all regions there are opportunities to extract oil and gas, exploiting ground wells. But also offshore platforms, since by definition, where there is sea underneath there is methane “.
“In our country we have nearly 1,500 wells that still need to be put into production: we have already drilled, already put the valve, we just have to build small three-inch gas pipelines to put them into production “, explains Marseille, adding that” it is not just a question of exploiting oil and gas from its own fields, but to reach a 100% energy mix, using all available sources, from hydrocarbons to renewables and wind “.
The President of Federpetroli also spoke of the extreme volatility in the price of oil, recalling that “it fell below $ 30 a barrel last year”. “In order to recover all that we have lost in investments a a price that can act as a break even – he affirmed – is wandering around about $ 120 a barrel, but in order to define the stable price it is necessary that it maintains the fluctuation around those levels for at least 5-6 months. For now, we do not see any signs of a stable price. “
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