SPI was founded on 16 July 1905 by a small number of shareholders, led by Cav. Luigi Scotti, a legendary oil pioneer. As early as 1911, the Company managed to obtain the concession for the Vallezza Mine.
In 1927, the Company passed under the management of the Standard Oil Co. of New Jersey, which held control until 1954, except for the war period, during which the SPI was first placed under commission and later seized by the German army.
In 1954, the company was taken over by a group of industrialists from Lombardy led by Dr A. Rivolta and Dr D. Sartirana. Sartirana. The business was successfully relaunched, both in the exploration field and in the industrial and commercial sectors.
In 1966, the majority shareholding was sold to the American company Phillips Petroleum Co., which developed mainly refining activities.
In 1972, control of SPI passed to the Moratti Group, whose management continued until 1986. In that year, the shareholders decided to restructure the company, retaining only the hydrocarbon exploration, production and marketing activities. Thus on 1 January 1987, control of SPI passed to AGIP.

Dates of existence: 1905 - 1994, In 1966, the majority stake is sold to the American company Phillips Petroleum Co., which develops mainly refining activities.
In 1972, control of SPI passed to the Moratti Group, whose management continued until 1986. In that year, the shareholders decided to restructure the company, retaining only the hydrocarbon exploration, production and marketing activities. Thus on 1 January 1987, control of SPI passed to AGIP.
In December 1994, the Vallezza field was declared exhausted and the concession of the same name ceased to exist, after all wells had been closed and the sites reclaimed.

Translated with DeepL