Country report
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29 Pages

Greece upstream summary

Greece upstream summary

Report summary

Upstream activity in Greece dates back to the very early 20th century. The current oil and gas fields in Greece are now mature and production peaked at around 27,400 b/d in 1987. However, licensing activity has been undergoing a small renaissance since 2011.Energean Oil & Gas operates the Prinos Area, Greece's only commercial development, following its acquisition of the majority shareholding in Kavala Oil in 2007. Energean Oil & Gas created a development plan for the Prinos ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 1.73 MB 29 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
    • Syn-Orogenic basin - the thrace basin
    • Post-Orogenic aegean basins
    • The northern aegean basin
      • Prinos sub-basin Hydrocarbon Plays
  • 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
      • Gas Infrastructure
      • Proposed Gas Infrastructure
      • Gas Storage
  • Policy and regulation
    • Key legislation
    • Regulatory body
    • State oil company
    • State participation
    • 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
    • Main Sedimentary Basins in Greece
  • 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
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