Insight
Continental & Mediterranean Europe Upstream 2016 in review: Reasons to be cheerful
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
At first glance, 2016 looked like a disappointing year for the upstream sector in Continental & Mediterranean Europe. The numbers show exploration and appraisal drilling down by half, while production seemed to have entered a terminal decline. However, a closer look shows that there have been plenty of positive stories for the region. Majors have entered frontier regions for the first time following successful licensing rounds, while a successful exploration well opened up a new deepwater play. The number of M&A deals tripled, with the largest deal seeing Chinese investment in one of Europe's largest onshore oil fields.
Table of contents
- Licensing awards and commitments down, but frontier areas attract Major interest
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Low exploration and appraisal drilling, but an exciting new play is discovered in the Black Sea
- Exploration and appraisal drilling in 2016
- Development spend down, but investment in major incremental projects continues
- Drop in liquids production is temporary, while gas remains steady
- Volumes traded down but exciting potential of onshore Albania attracts M&A spend
Tables and charts
This report includes the following images and tables:
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2016 licensing awards2016 licence round block awardsDevelopment capital expenditure in 2016 by country
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Liquid production by countryGas production by countryDeal count, resources traded and considerations paid (2010-2016)Continental & Mediterranean Europe Upstream 2016 in review: Reasons to be cheerful: Image 3
What's included
This report contains:
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