Country report
| |
25 Pages

Greece upstream summary

Greece upstream summary

Report summary

Greece is a mature hydrocarbon province. Production peaked at around 27,400 b/d in 1987. However, licensing activity has been undergoing a small renaissance since 2011.In 2011, an amendment to the existing Hydrocarbon Law (2289/95) was introduced. Following this, the Ministry of Environment, Energy & Climate Change invited licence applications through an Open Door process for three Contract Areas in Western Greece: Ioannina, Patraikos and Katakolon. The Open Door process received eight ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 1.71 MB 25 Pages, 10 Tables, 8 Figures
  • Country Overview XLS - 369.50 KB


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

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. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Key facts
  • Location maps
  • Geology
    • Introduction
    • External hellenic nappes
      • External Hellenic Nappes hydrocarbon plays
    • Thrace Basin
    • Northern Aegean Basin
      • Prinos sub-basin
  • Exploration
    • Licensing
    • Drilling
      • Drilling activity
      • Onshore
      • Offshore
    • Recent Discoveries
      • Epsilon
      • Kallirachi
  • Reserves and resources
  • Production
    • Liquids
    • Gas
  • Infrastructure
    • Oil infrastructure
      • Burgas-Alexandroupoli pipeline
      • Greece-Macedonia Oil Pipeline
    • Gas infrastructure
  • Policy and regulation
    • Key legislation
    • Regulatory body
    • State oil company
    • Licensing
      • Prospecting, Exploration and Exploitation Rights
      • Procedure to Allocate Rights
      • Types of Licence
      • Prospecting Licences
      • Types of Exploration and Exploitation Contracts
      • Exploration and Exploitation Contract Terms
      • Exploration Work Programmes
      • Discovery and Development
      • Abandonment Provision
  • Fiscal terms
    • Current fiscal terms
      • Participation Rate
      • Carry & Reimbursement
      • Bonuses, rentals and fees
      • Signature bonuses
      • Production bonuses
      • Area rentals
      • Training fees
      • Other bonuses and fees
      • Indirect taxes
      • Social development levies
      • Royalty and other production taxes
      • Environmental / CO2 taxes
      • Other Production Taxes
      • Domestic Market Obligation (DMO)
      • Liquids Pricing
      • Corporate (or Petroleum) Income Tax
      • Taxable Income
      • Investment uplift/credit
      • Additional Profits Taxes
      • Fiscal/Contractual Ring-Fences
      • Other Taxes
      • Depreciation
      • Sample Cash Flow
    • Historical background
    • Pre-1990s
    • 1990s
    • 2000s

In this report there are 18 tables or charts, including:

  • Executive summary
  • Key facts
    • Key facts: Table 1
  • Location maps
    • Country Map
  • Geology
    • Greece- major geological basins
  • Exploration
    • Current Licences
    • Exploration Drilling by Region
  • Reserves and resources
    • Reserves and resources: Table 1
    • Reserves and resources: Table 2
  • Production
    • Production: Table 1
    • Production: Table 2
    • Greece Liquids Production
    • Production: Table 3
    • Production: Table 4
    • Greece Gas Production
  • Infrastructure
    • Greek Oil Infrastructure Map
    • Greek Gas Pipeline System
  • Policy and regulation
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
    • GEM models
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.