Continental Europe upstream: 2022 in review

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The energy shocks after Russia’s invasion of Ukraine highlighted the importance of Continental Europe’s own upstream sector. 2022 was a year of change – from the Netherlands to the Black Sea and East Mediterranean. We look back at the headline stories of 2022: Policy shifts and fiscal reforms - how have governments responded to security of supply pressures and high prices? Project delivery - which development drove upstream capex to 80% year-on-year growth? Exploration success - how do Cyprus and Türkiye’s large gas finds rank globally? Regional M&A - who was involved in the region’s largest asset deal in a decade? Regional energy transition - did Europe move closer to its upstream decarbonisation aims?

Table of contents

  • Executive summary
  • Our key insights of 2022

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  • Key takeaways

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  • Document

    Continental Europe Upstream 2022 In Review.pdf

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