The Ministry of Energy Transition estimates that France has 500 oil wells. Which produce 0.9% of the nation’s yearly oil consumption. Simple green pipes are seen above ground. When some people first see an oil well, they frequently exclaim, “Ah? Is this it? As he approached the lake in Parentis-en-Born in the southwest French region
The Ministry of Energy Transition estimates that France has 500 oil wells. Which produce 0.9% of the nation’s yearly oil consumption.
Simple green pipes are seen above ground. When some people first see an oil well, they frequently exclaim, “Ah? Is this it? As he approached the lake in Parentis-en-Born in the southwest French region of Landes. Xavier Lopez, chief of oilfield operations for Vermilion France. Remarked, “They probably envisioned something magnificent, something spitting fire. Yes, “black gold” is still being mine from the French subsoil among the pine trees in the Aquitaine basin. Just as it is on the outskirts of Paris. It amounts to roughly 0.9% of the country’s annual oil consumption, or 12,000 barrels per day. The Ministry of Energy Transition claims that from the early 1980s, production has decreased by a factor of five.
The top producer in France, the Canadian company Vermilion, plans to fully utilize all 27 of its state-granted concessions. A deadline of January 1, 2040 have been establishe by the Hulot bill of December 2017 for “putting an end to the exploration as well as the exploitation of hydrocarbons. The oil corporation spent between €500,000 and €600,000 on lobbying with the intention of influencing the discussion, according to a 2018 study released by environmental advocacy group Les Amis de la Terre (“Friends of the Earth”). Vermilion’s general manager for France, Pantxika Etcheverry, described the reaction to the regulation as “anger, incomprehension.” The oil industry will still be necessary in 2040, according to Etcheverry, who was holding up a desk-mounted map showing French mining companies. Better to keep making it than to import it.
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The “Texas of Landes”
When all energy sources are combine, oil dominates the market today. Accounting for 42% of the nation’s end-use consumption in 2022, especially in transportation. According to the 2020 revision of the national low-carbon strategy, it will only be residual by 2050.Just 12,600 barrels per day are produced by its fields in the Paris region and the Aquitaine basin in southwest France. However, they make money; the present price of crude is around $50, and they only need to break even at $30 per barrel.