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British Gas (BG), which holds a leadership
position in the North Sea, is greatly expanding its activity in Italy. In
fact, since January 1st 1996 BG has bought all the hydrocarbon concessions
of FIAT Rimi, a subsidiary of the Turin-based automotive company that had
run hydrocarbon exploration and production activities. The new company’s
name is British Gas Rimi.
It is an important event because it confirms the growing interest that
foreign companies devote to Italy, just before the opening of the Po
Valley basin to private oil companies by 1997, in accordance with the
rules of the European Union.
BG came to Italy three years ago and up till now had bought 9 exploration
concessions, mainly in Southern Italy. FIAT RIMI is presently owner of 36
exploration concessions and 26 development concessions in Italy.
The concessions of FIAT Rimi purchased by BG extend over a total mining
acreage of 1,050,000 hectares. Various concessions are located within the
Southern Apennines, a region very attractive for hydrocarbon exploration
and production, after the five-year-old discoveries in the promising Val
D’Agri. The annual gas production of the former FIAT Rimi, now British Gas
Rimi, is 65 million cubic meter.
FIAT Rimi, one of the oldest hydrocarbon companies in Italy, thus abandons
the Italian stage. In fact, FIAT entered the hydrocarbon market in 1957,
when the first law for onshore oil & gas exploration in Italy, focused on
the development of the sector, was promulgated.
President of the new British Gas Rimi is Mr. Gianni Bonati, a geologist
who had worked in Italy and abroad and holds a deep knowledge of the
complex Italian geology. Mr. Bonati had previously served as Managing
Director of FIAT Rimi.
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