Table of Contents
1 Table Of Contents 2
1.1 List Of Tables 9
1.2 List Of Figures 11
2 Introduction 12
2.1 What Is This Report About? 12
2.2 How To Use
This Report 13
2.3 Market Definition 13
3 Italy Energy Sector 15
3.1 Italy Energy sector, Market Overview 15
3.2 Italy Energy Sector, Crude
Oil 16
3.2.1 Italy Crude Oil, Overview 16
3.2.2 Italy Crude Oil,
Supply and Demand Balance 16
3.2.3 Italy Crude Oil, Regulatory Structure
22
3.2.4 Italy Crude Oil, Infrastructure 22
3.3 Italy Energy Sector,
Natural Gas 24
3.3.1 Italy Natural Gas, Overview 24
3.3.2 Italy
Natural Gas, Supply and Demand Balance 24
3.3.3 Italy Natural Gas,
Regulatory Structure 30
3.3.4 Italy Natural Gas, Infrastructure 31
3.4
Italy Energy Sector, Coal 33
3.4.1 Italy Coal, Overview 33
3.4.2 Italy
Coal, Supply and Demand Balance 33
3.4.3 Italy Coal, Regulatory Structure
37
3.5 Italy Energy Sector, Electricity 38
3.5.1 Italy Electricity,
Overview 38
3.5.2 Italy Electricity, Supply and Demand Balance 39
3.5.3 Italy Electricity, Regulatory Structure 45
3.5.4 Italy Electricity,
Infrastructure 46
4 Italy Fiscal Regime 47
4.1 Italy Petroleum Fiscal
Environment 47
4.2 License Terms 48
4.3 Key Fiscal Terms 49
4.4
Sample Cashflows Calculations 51
5 Italy Upstream Investment Environment
Benchmarking 52
5.1 Introduction 52
5.2 The Overall Ranking 52
5.3
Upstream Fiscal Attractiveness 53
5.3.1 Maximum Government Take Index
54
5.3.2 Maximum State Participation 54
5.4 Oil and Gas Sector
Performance 55
5.4.1 Exploration Activity 57
5.4.2 Oil and Gas
Production 58
5.4.3 Oil and Gas Reserves 59
5.4.4 Consumption 59
5.4.5 Refining Capacity 59
5.5 Economic Performance 60
5.5.1 GDP
Growth Index 61
5.5.2 FDI Confidence Index 61
5.5.3 Balance of Trade
Index 62
5.6 Socio-Political Performance 62
6 Italy Exploration And
Production Sector 65
6.1 Italy, Country Snapshot 65
6.1.1 Italy, Key
Data 65
6.1.2 Italy, Exploration And Production Assets Map 66
6.1.3
Italy, Crude Oil & Natural Gas Reserves 67
6.2 Italy, Crude Oil And
Natural Gas Production 69
6.2.1 Italy, Historical Crude Oil Production
69
6.2.2 Italy, Historical Natural Gas Production 70
6.2.3 Italy,
Crude Oil And Natural Gas Producing Asset Details 71
6.2.4 Italy, Crude
Oil Production Assets By Area 72
6.2.5 Italy, Natural Gas Production
Assets By Area 73
6.2.6 Italy, Planned Production Assets Details 74
6.2.7 Italy, Crude Oil Production by Company 74
6.2.8 Italy, Natural Gas
Production by Company 75
6.3 Italy, Crude Oil And Natural Gas Forecasts
75
6.3.1 Italy, Forecasted Crude Oil Production 75
6.3.2 Italy,
Forecasted Natural Gas Production 75
6.4 Italy, Exploration Block Details
76
6.4.1 Italy, Total Number of Active Exploration Blocks 76
6.4.2
Italy, Total Number of Active Exploration Blocks by Company 77
6.4.3
Italy, Exploration Blocks Details 79
6.4.4 Italy, Planned Exploration
Blocks Details 82
7 Italy Refining Sector 83
7.1 Italy Refining
Sector, Overview 83
7.2 Italy Refining Sector, Crude Distillation Unit
Capacity 83
7.3 Italy Refining Sector, Coking Unit Capacity 84
7.4
Italy Refining Sector, Fluid Catalytic Cracking Capacity 84
7.5 Italy
Refining Sector, Hydrocracking Capacity 85
8 Italy Pipeline Sector 86
8.1 Italy Pipeline Sector, Overview 86
8.2 Italy Pipeline Sector, Crude
Oil Pipelines 86
8.3 Italy Pipeline Sector, Petroleum Product Pipelines
87
8.4 Italy Pipeline Sector, Natural Gas Pipelines 88
9 Italy LNG
Sector 93
9.1 Italy LNG Sector, Regasification Capacity 93
10 Eni
S.p.A. 94
10.1 Eni S.p.A., Key Information 94
10.2 Eni S.p.A., Company
Overview 94
10.3 Eni S.p.A., Business Description 94
10.3.1 Eni
S.p.A., Business Description, Business Overview 94
10.3.2 Eni S.p.A.,
Business Description, Engineering and Construction 94
10.3.3 Eni S.p.A.,
Business Description, Exploration & Production 95
10.3.4 Eni S.p.A.,
Business Description, Gas & Power 97
10.3.5 Eni S.p.A., Business
Description, Others 98
10.3.6 Eni S.p.A., Business Description,
Petrochemicals 99
10.3.7 Eni S.p.A., Business Description, Refining and
Marketing 99
10.3.8 Eni S.p.A., Business Description, Major Products and
Services 101
10.4 Eni S.p.A., Value Chain Analysis 102
10.4.1 Eni
S.p.A., Value Chain Analysis, Upstream 102
10.4.2 Eni S.p.A., Value Chain
Analysis, Midstream 104
10.4.3 Eni S.p.A., Value Chain Analysis,
Downstream 105
10.4.4 Eni S.p.A., Value Chain Analysis, Retail 105
10.5 Eni S.p.A., SWOT Analysis 106
10.5.1 Eni S.p.A., SWOT Analysis,
Overview 106
10.5.2 Eni S.p.A., SWOT Analysis, Strengths 107
10.5.3
Eni S.p.A., SWOT Analysis, Weaknesses 107
10.5.4 Eni S.p.A., SWOT
Analysis, Opportunities 109
10.5.5 Eni S.p.A., SWOT Analysis, Threats
110
10.6 Eni S.p.A., Revenue Analysis 111
10.6.1 Eni S.p.A., Revenue
Analysis, Revenue by Segment 111
10.6.2 Eni S.p.A., Revenue Analysis,
Revenue by Geography 112
10.7 Eni S.p.A., Financial and Operational Review
114
10.7.1 Eni S.p.A., Financial and Operational Review, Financial
Statements 114
10.7.2 Eni S.p.A., Financial and Operational Review,
Financial Ratios 115
10.8 Eni S.p.A., Operational Indicators 116
11
Royal Dutch Shell Plc 117
11.1 Royal Dutch Shell Plc, Key Information
117
11.2 Royal Dutch Shell Plc, Company Overview 117
11.3 Royal Dutch
Shell Plc, Business Description 117
11.3.1 Royal Dutch Shell Plc, Business
Description, Business Overview 117
11.3.2 Royal Dutch Shell Plc, Business
Description, Chemicals 118
11.3.3 Royal Dutch Shell Plc, Business
Description, Exploration and Production 119
11.3.4 Royal Dutch Shell Plc,
Business Description, Gas and Power 121
11.3.5 Royal Dutch Shell Plc,
Business Description, Oil Products 122
11.3.6 Royal Dutch Shell Plc,
Business Description, Others 124
11.3.7 Royal Dutch Shell Plc, Business
Description, Major Products and Services 126
11.4 Royal Dutch Shell Plc,
Value Chain Analysis 128
11.4.1 Royal Dutch Shell Plc, Value Chain
Analysis, Upstream 128
11.4.2 Royal Dutch Shell Plc, Value Chain Analysis,
Midstream 129
11.4.3 Royal Dutch Shell Plc, Value Chain Analysis, Retail
130
11.4.4 Royal Dutch Shell Plc, Value Chain Analysis, Power Generation
131
11.4.5 Royal Dutch Shell Plc, Value Chain Analysis, Transformation
131
11.5 Royal Dutch Shell Plc, SWOT Analysis 133
11.5.1 Royal Dutch
Shell Plc, SWOT Analysis, Overview 133
11.5.2 Royal Dutch Shell plc, SWOT
Analysis, Strengths 133
11.5.3 Royal Dutch Shell plc, SWOT Analysis,
Weaknesses 134
11.5.4 Royal Dutch Shell plc, SWOT Analysis Opportunities
135
11.5.5 Royal Dutch Shell plc, SWOT Analysis, Threats 136
11.6
Royal Dutch Shell Plc, Revenue Analysis 137
11.6.1 Royal Dutch Shell Plc,
Revenue Analysis, Revenue by Segment 137
11.6.2 Royal Dutch Shell Plc,
Revenue Analysis, Revenue by Geography 138
11.7 Royal Dutch Shell Plc,
Financial and Operational Review 140
11.7.1 Royal Dutch Shell Plc,
Financial and Operational Review, Financial Statements 140
11.7.2 Royal
Dutch Shell Plc, Financial and Operational Review, Financial Ratios 141
12
Financial Deals Landscape 142
12.1 Acquisition 142
12.1.1
Mediterranean Oil & Gas Acquires 100% of JKX Italia From JKX Oil & Gas 142
12.1.2 Sonatrach, Edison, Enel Produzione, Sfirs, Hera Trading Acquire 13.5%
Equity Stake In Galsi From Wintershall 144
12.1.3 Edison And Depa Form
Joint Venture To Develop Greece-Italy Gas Pipeline 147
12.1.4 Independent
Resources Enters Into Partnership Agreement With ERG Power & Gas 148
12.1.5 Enel Forms Joint Venture With Egyptian Natural Gas Holding Company
150
12.1.6 StatoilHydro And EGL Form Joint Venture 151
12.1.7 Po
Valley Energy Enters Into Joint Venture With Edison 153
12.1.8 Lukoil
Announces To Form Joint Venture With ERG 154
12.1.9 Gaz de France, Acea
And Gas Plus To Enter Into Partnership 155
13 Recent Developments 158
13.1 May 30, 2008: Total Expects Kashagan Oil Production Starting In Next Few
Years 158
13.2 May 29, 2008: Gaz de France And Hoegh To Develop Triton LNG
Project 159
13.3 May 28, 2008: Eni Drills Charon-1 Well In Western
Australia 160
13.4 May 27, 2008: Eni Wins New Exploration Block In
Indonesia 160
13.5 May 26, 2008: Petrobras Announces Discovery Of
Hydrocarbons In Gulf Of Mexico Waters 161
13.6 May 23, 2008: Indonesia
Awards Exploration Rights For Five Oil And Gas Blocks 162
13.7 May 21,
2008: Eni Makes New Oil Discovery In UK North Sea 162
13.8 May 20, 2008:
Total Launches Its Second Nigerian Deepwater Project 163
13.9 May 19,
2008: Eni And The Republic Of Congo Launch A New Integrated Model Of
Cooperation 163
13.10 May 15, 2008: ERG Reports Q1 2008 Results 165
13.11 May 14, 2008: Enel Reports Q1 2008 Results 169
13.12 May 13, 2008:
Edison Appoints Directors Of Board Committees 172
13.13 May 13, 2008:
Edison Reports Q1 2008 Results 172
13.14 May 13, 2008: Dolphin Energy
Evaluates Bids To Construct Pipeline Between Taweelah And Fujairah 175
13.15 May 13, 2008: Italy Project Receives Ministry Approval To Shoot 3D
Siesmic 176
13.16 May 12, 2008: Eni May Postpone Kashagan Oil Production
Until 2013 178
13.17 May 09, 2008: Saras Declares Q1 2008 Results 180
13.18 May 07, 2008: Mediterranean Updates On OM2 Well 183
13.19 May 06,
2008: StatoilHydro Updates On Sangos-1 Well 185
13.20 May 05, 2008: Eni
Announces Oil Discovery Offshore Angola 186
14 Appendix 187
14.1
Methodology 187
14.1.1 Coverage 187
14.1.2 Secondary Research 188
14.1.3 Primary Research 188
14.1.4 Forecasts 189
14.1.5 Expert Panel
Validation 191
14.2 Definitions 192
14.3 Unit Of Measure 193
14.4
Contact Us 193
14.5 About Global Markets Direct 193
14.6 Disclaimer
193
1.1 List of Tables
Table 1: Italy, Historical and
Forecasted Production and Consumption of Crude Oil, 1996-2020 17
Table 2:
Italy, Historical and Forecasted Imports and Exports of Crude Oil, 1996-2020
19
Table 3: Italy, Historical and Forecasted Reserves of Crude Oil,
1996-2020 21
Table 4: Italy, Historical and Forecasted Production and
Consumption of Natural Gas, 1996-2020 25
Table 5: Italy, Historical and
Forecasted Imports and Exports of Natural Gas, 1996-2020 27
Table 6:
Italy, Historical and Forecasted Reserves of Natural Gas, 1996-2020 29
Table 7: Italy, Historical and Forecasted Production and Consumption of
Coal, 1996-2020 34
Table 8: Italy, Historical and Forecasted Imports
and Exports of Coal, 1996-2020 36
Table 9: Italy, Historical and
Forecasted Electricity Generation Capacity, 1996-2020 40
Table 10: Italy,
Historical and Forecasted Generation and Consumption of Electricity, 1996-2020
42
Table 11: Italy, Historical and Forecasted Imports and Exports of
Electricity, 1996-2020 44
Table 12: Italy, Crude Oil and Natural Gas,
Depreciation Rate For Fixed Assets, 2007 50
Table 13: Western Europe,
Investment Benchmarking, Overall Country Rankings, April 2008 52
Table 14:
Western Europe, Investment Benchmarking, Upstream Fiscal Attractiveness, April
2008 53
Table 15: Western Europe, Investment Benchmarking, Oil and Gas
Sector Performance, April 2008 55
Table 16: Western Europe, Investment
Benchmarking, Economic Performance, April 2008 60
Table 17: Western
Europe, Investment Benchmarking, Socio-Political Performance, April 2008
63
Table 18: Italy, Oil and Gas, Key Statistics, April 2008 65
Table
19: Total Crude Oil and Natural Gas Reserves, 2000-2012 68
Table 20:
Italy, Total Crude Oil Production (MMBBLs), 2000-2007 69
Table 21: Italy,
Total Natural Gas Production (BCF), 2000-2007 70
Table 22: Italy, Oil and
Gas Asset Details, April 2008 71
Table 23: Italy Onshore, Total Crude Oil
Production (Barrels), by Assets, 2000-2007 72
Table 24: Italy Offshore,
Total Crude Oil Production (Barrels), by Assets, 2000-2007 72
Table 25:
Italy Onshore, Total Natural Gas Production (MMCF), by Assets, 2000-2007
73
Table 26: Italy Offshore, Total Natural Gas Production (MMCF), by
Assets, 2000-2007 73
Table 27: Italy, Oil and Gas Planned Production Asset
Details, April 2008 74
Table 28: Italy, Total Crude Oil Production
(MMBBLs), by Company, 2000-2007 74
Table 29: Italy, Total Natural Gas
Production (BCF), by Company, 2000-2007 75
Table 30: Italy, Total Crude
Oil Production (MMBBLs), Forecast, 2008-2013 75
Table 31: Italy, Total
Natural Gas Production (BCF), Forecast, 2008-2013 75
Table 32: Italy,
Total Number of Active Exploration, 2000-2007 77
Table 33: Italy, Total
Number of Active Exploration Blocks by Company, 2000-2007 77
Table 34:
Italy, Total Number of Active Exploration Blocks by Company, 2000-2007
(Cont' d) 78
Table 35: Italy, Oil and Gas Exploration Blocks Details, April
2008 79
Table 36: Italy, Oil and Gas Exploration Blocks Details, April
2008 (Cont' d) 80
Table 37: Italy, Oil and Gas Exploration Blocks Details,
April 2008 (Cont' d) 81
Table 38: Italy, Oil and Gas Planned Exploration
Block Details, April 2008 82
Table 39: Italy, Europe, Crude Distillation
Unit Capacity (MMTPA), 2000-2012 83
Table 40: Italy, Europe, Coking Unit
Capacity (MMTPA), 2000-2012 84
Table 41: Italy, Europe, Fluid Catalytic
Cracking Unit Capacity (MMTPA), 2000-2012 84
Table 42: Italy, Europe,
Hydrocracking Unit Capacity (MMTPA), 2000-2012 85
Table 43: Italy, Crude
Oil Pipelines, 2007 86
Table 44: Italy, Petroleum Product Pipelines, 2007
87
Table 45: Italy, Natural Gas Pipelines, 2007 88
Table 46: Italy,
Natural Gas Pipelines, 2007 (Cont' d) 89
Table 47: Italy, Natural Gas
Pipelines, 2007 (Cont' d) 90
Table 48: Italy, Natural Gas Pipelines, 2007
(Cont' d) 91
Table 49: Italy, Natural Gas Pipelines, 2007 (Cont' d) 92
Table 50: Italy, Europe, Regasification Capacity (Bcf), 2000-2012 93
Table
51: Eni S.p.A., Key Facts, 2007 94
Table 52: Eni S.p.A., SWOT
Analysis , 2007 106
Table 53: Eni S.p.A., Revenue by Segment, Euro
Million, 2002-2006 112
Table 54: Eni S.p.A., Revenue by Geography,
Euro Million, 2002-2006 113
Table 55: Eni S.p.A., Financial
Statements, Euro Million, 2003-2007 114
Table 56: Eni S.p.A.,
Financial Ratios, Euro Million, 2003-2007 115
Table 57: Eni S.p.A.
Operational Indicators, 2003-2007 116
Table 58: Royal Dutch Shell
plc, Key Facts, 2006 117
Table 59: Royal Dutch Shell plc, SWOT
Analysis , 2006 133
Table 60: Royal Dutch Shell plc, Revenue by
Segment, USD Million, 2002-2006 138
Table 61: Royal Dutch Shell plc,
Revenue by Geography, USD Million, 2002-2006 139
Table 62: Royal
Dutch Shell plc, Financial Statements, USD Million, 2002-2006 140
Table
63: Royal Dutch Shell plc, Financial Ratios, USD Million, 2002-2006
141
Table 64: Brent Blend NYMEX Future Prices 191
1.2 List of
Figures
Figure 1: Italy, Energy Sector break-up, 2007 15
Figure 2:
Italy, Crude Oil Production And Consumption (Thousand Barrels Per Day),
1996-2020 18
Figure 3: Italy, Crude Oil Imports And Exports (Thousand
Barrels Per Day), 1996-2020 20
Figure 4: Italy, Crude Oil Reserves
(Million Barrels), 1996-2020 22
Figure 5: Italy, Natural Gas Production
And Consumption (Billion Cubic Feet), 1996-2020 26
Figure 6: Italy,
Natural Gas Imports (Billion Cubic Feet), 1996-2020 28
Figure 7: Italy,
Natural Gas Reserves (Billion Cubic Feet), 1996-2020 30
Figure 8: Italy,
Coal Production And Consumption (Million Tons), 1996-2020 35
Figure 9:
Western Europe, Country Standings, Upstream Fiscal Attractiveness, April 2008
54
Figure 10: Western Europe, Country Standings, Oil and Gas Sector
Performance, April 2008 56
Figure 11: Western Europe, Country Standings,
Oil and Gas Sector Performance, April 2008 (Contd.) 57
Figure 12: Western
Europe, Country Standings, Number of Active Exploration Blocks Made Active,
April 2008 58
Figure 13: Western Europe, Country Standings, Economic
Performance, April 2008 61
Figure 14: Western Europe, Country Standings,
Socio-Political Performance, April 2008 63
Figure 15: Italy,
Exploration and Production Assets Map, April 2008 66
Figure 16: Italy,
Total Crude Oil and Natural Gas Reserves (MMBOE), 2000-2012 67
Figure 17:
Italy, Total Crude Oil Production (MMBBLs), 2000-2007 69
Figure 18: Italy,
Total Natural Gas Production (BCF), 2000-2007 70
Figure 19: Italy, Total
Number of Active Exploration, 2000-2007 76
Figure 20: Eni S.p.A.,
Value Chain Analysis 102
Figure 21: Royal Dutch Shell plc, Value
Chain Analysis 128
Figure 22: Global Markets Direct Methodology 187
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