Europe’s upstream in transition – is growth an option?

Table of contents

• Executive summary
• What’s the state of play in Europe?
  • Exploration – a tale of contrasts
  • The negatives: governments are responding to public opposition with new restrictions
  • The positives: the Majors have committed to high-impact exploration and licensing rounds abound
  • Production – mixed messages as Europe’s gas imports increase
  • Gas outlook: obstacles ahead for the ‘energy transition fuel’
  • Oil and condensate outlook: growth projects must adapt to align with environmental concerns
• What are the strengths and weaknesses of the European upstream sector?
  • Strengths
  • Weaknesses
• Strategies for success in Continental Europe’s upstream
  • 1. Don’t be afraid of mature basins, with potential to scale up by playing across borders
  • 2. Prioritise regulatory and fiscal stability above all else
  • 3. Pick M&A options wisely, learning lessons from the North Sea
  • Majors to rationalise further. Where in Europe will the axe fall next?
  • More asset sales by NOCs and ‘national champions’ in Central and Eastern Europe?
  • Who are the likely buyers?
  • Europe’s upstream in transition – is growth an option?

Tables and charts

This report includes 7 images and tables including:

• European countries with drilling restrictions
• European countries with licensing rounds in 2018-20
• European sales gas production

What's included

This report contains:

• Europe’s upstream in transition – is growth an option?

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