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The onshore sector of the Italy Caltanissetta Basin has a long exploration history and is now considered mature. It is thought the greatest yet-to-find volumes lie in the Plio-Pleistocene reservoirs of the deepwater Sicily Channel. However, a drilling moratorium was introduced in August 2010, which banned all drilling within five miles of the coast and within 12 miles of any marine protected area. Whilst the ban was partially lifted in 2012, the Government reintroduced restrictions as part of the 2016 budget. As a result of the ban, and the rising levels of bureaucracy that go with it, we do not forecast significant levels of exploration in the Plio-Pleistocene Deepwater play and have excluded the Outlook forecast from this basin analysis. If the situation changes, we will re-evaluate the exploration opportunities in the deepwater portion of the basin.
Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.
Explorers and advisors can use this report to understand the history and potential value of this basin.
Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.
Our in-depth analysis gives you the information you need to navigate the ever-changing challenges of oil and gas exploration so you can make critical commercial decisions.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
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Asset report | Feb 2016
Italy Caltanissetta exploration basin
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