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Continental & Mediterranean Europe Upstream 2016 in review: Reasons to be cheerful


Continental & Mediterranean Europe Upstream 2016 in review: Reasons to be cheerful

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.

What's included?

This report includes 2 file(s)

  • Continental & Mediterranean Europe Upstream 2016 in review: Reasons to be cheerful PDF - 783.67 KB 8 Pages, 0 Tables, 7 Figures
  • CME Data Dashboard.xls XLS - 241.50 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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  • Licensing awards and commitments down, but frontier areas attract Major interest
  • 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

In this report there are 7 tables or charts, including:

  • Licensing awards and commitments down, but frontier areas attract Major interest
    • 2016 licensing awards
    • 2016 licence round block awards
  • Low exploration and appraisal drilling, but an exciting new play is discovered in the Black Sea
    • Continental & Mediterranean Europe Upstream 2016 in review: Reasons to be cheerful: Image 3
  • Development spend down, but investment in major incremental projects continues
    • Development capital expenditure in 2016 by country
  • Drop in liquids production is temporary, while gas remains steady
    • Liquid production by country
    • Gas production by country
  • Volumes traded down but exciting potential of onshore Albania attracts M&A spend
    • Deal count, resources traded and considerations paid (2010-2016)
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