Country Report

Greece upstream summary

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01 January 2017

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 ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
    • Introduction
    • External hellenic nappes
      • External Hellenic Nappes hydrocarbon plays
    • Thrace Basin
    • Northern Aegean Basin
      • Prinos sub-basin
    • Licensing
    • Drilling
      • Drilling activity
      • Onshore
      • Offshore
    • Recent Discoveries
      • Epsilon
      • Kallirachi
  • Reserves and resources
    • Liquids
    • Gas
    • Oil infrastructure
      • Burgas-Alexandroupoli pipeline
      • Greece-Macedonia Oil Pipeline
    • Gas infrastructure
    • 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
    • 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

Tables and charts

This report includes 18 images and tables including:

  • Key facts: Table 1
  • Country Map
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Greece- major geological basins
  • Current Licences
  • Production: Table 1
  • Production: Table 2
  • Greece Liquids Production
  • Production: Table 3
  • Production: Table 4
  • Greece Gas Production
  • Greek Gas Pipeline System
  • GEM models
  • Exploration Drilling by Region
  • Greek Oil Infrastructure Map
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2

What's included

This report contains:

  • Document

    Country Overview

    PDF 1.64 MB

  • Document

    Country Overview

    XLS 369.50 KB

  • Document

    Country Overview

    ZIP 1.93 MB

  • Document

    Executive summary

    PDF 60.45 KB

  • Document

    Key facts

    PDF 66.58 KB

  • Document

    Location maps

    PDF 351.61 KB

  • Document

    Geology

    PDF 242.91 KB

  • Document

    Exploration

    PDF 378.29 KB

  • Document

    Reserves and resources

    PDF 73.00 KB

  • Document

    Production

    PDF 118.15 KB

  • Document

    Infrastructure

    PDF 850.62 KB

  • Document

    Policy and regulation

    PDF 100.12 KB

  • Document

    Fiscal terms

    PDF 122.65 KB

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