Activities for petroleum and natural gas extraction revenue in Italy 2012-2022

Italy is the fifth largest energy consumer in Europe, only behind Germany, France, the UK and Turkey, with primary energy consumption amounting to 6.37 exajoules in 2018. The primary energy consumption is driven by natural gas, amounting to 59.5 million tonnes of oil equivalent in 2018, followed by oil, with consumption amounting to 58.6 million tonnes of oil equivalent. Therefore, it doesn’t come as a surprise to see that revenues generated from petroleum and natural gas extraction activities, which include services such as drilling, and draining and pumping services, to name a few, have witnessed a rise from 1.8 billion U.S. dollars in 2014 to 2.9 billion U.S. dollar in 2019. A similar trend is expected in the short to medium term as well. As of 2018, 18 oil wells were drilled in the country.

With respect to on shore natural gas production, Basilicata, with roughly 1.6 billion cubic meters, was the region with the highest production, followed by Emilia-Romagna and Sicily.