09/12/2025 by Daniel Tait
A spokesperson for the Italian division of Shell said that the company is now prepared to invest more in the European nation to fuel hydrocarbon production.
As a result, Joao Santos Rosa, Shell’s County Chair in Italy, is now urging the Italian government to permit fresh drilling.
As well as being a respected lubricant brand, driving industry in Italy with hydraulic oil and heat transfer fluid, Shell also spends around 500 million euros per annum in the country. As such, it is currently the foremost overseas investor in Italy’s upstream sector.
Despite this, Shell’s hydrocarbon production activities are diminishing while it waits for government approval for new wells within the two concessions under its authority in Italy.
Commenting at a recent event held in Rome, the head of Shell’s Italian operations said that if the new drilling gets the go ahead, the global energy group could invest significantly more in Italy than it does at present.
The UK oil and gas company produces petroleum resources in the two biggest onshore fields in Europe, Tempa Rossa and Val d’Agri, which are both located in the Basilicata region in Southern Italy.
Regarding the potential of increased output, Santos stated that after the Italian government greenlights the new wells, Shell could effectively double production levels at the Val d’Agri field operated by Eni. This would grow the current 40,000 barrels-of-oil-equivalent-per-day (boepd) output to 80,000.
He also noted that the Tempa Rossa field operated by French energy operator Total is also being underused, producing approximately 30,000 boepd.
You may also interested in:
TotalEnergies to invest heavily in international energy exploration
French oil and gas giant, TotalEnergies, is upping its global exploration game, investing around $1 billion a year.
European oil giants experience trading boom amid Iran crisis
A recent report has revealed that the three biggest oil companies in Europe have made billions of dollars via trading during the energy supply crunch sparked by the Iran war.