Continental and Mediterranean Europe: 4 things to look for in 2019 Report

Insight 13 December 2018

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Report summary

The next twelve months will be intriguing for the upstream sector in Continental and Mediterranean Europe (CME). The Majors look set to have a very active year across the region, targeting deepwater prospects in frontier regions. Potential multi-tcf discoveries in Cyprus could once again see gas dynamics in the East Mediterranean shift, potentially stranding Aphrodite and Calypso. Expected FIDs have been delayed from 2018, meaning 2019 should be the year that sees significant expenditure committed to the region. The start-up of Tempa Rossa will kick-start a renaissance of the Italian upstream industry, helping reverse the recent decline in production. Exploration success in under-explored areas coupled with these developments will demonstrate that CME is much more than a mature region with limited upside.