Country Report
Portugal upstream summary
Report summary
There have been no commercial discoveries in Portugal, and domestic oil and gas requirements are met by imports. Following the 2018 abandoment of drilling plans in the frontier Lusitanian basin, the exploration outlook is bleak.
Table of contents
- Executive summary
- Key facts
- Location maps
-
Key companies
- Current interests
- Historical interests
-
Geology
- Introduction
-
Lusitanian basin
- Alentejo Area
- Galician basin
- Gulf of Cadiz
-
Exploration
-
Licensing
- Licensing history
-
Drilling
- Drilling activity
-
Licensing
- Reserves and resources
-
Production
- Oil
- Gas
-
Infrastructure
-
Oil infrastructure
- Overview
- Key pipelines
-
Gas infrastructure
- Overview
- Operator
- Key pipelines
-
Oil infrastructure
-
Policy and regulation
-
Key legislation
- Decree-Law No 141/90 and 261-B/91
- Decree-Law No 109/94
- Regulatory body
-
State oil company
- Gas e Petroleos de Portugal (Galp)
- Redes Energéticas Nacionais (REN)
- State participation
-
Licensing
- Preliminary Evaluation Licences
- Concession Contracts
-
Key legislation
-
Fiscal terms
-
Overview
- Upstream
- Mid/Downstream
- Current fiscal terms
-
Concessions
- State equity participation
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Corporate income tax
- Other taxes
- EU temporary solidarity contribution (2022-23)
- Product pricing
- Sample Cash Flows
-
Historical background
- 1990s
- 2000s
-
Overview
Tables and charts
This report includes 13 images and tables including:
- Key facts: Table 1
- Country map
- Geology Basin Name
- Reserves and resources: Table 1
- Geology: Image 2
- Portugal - sub-commercial discoveries map
- Portugal - blocks awarded and relinquished
- Portugal - drilling activity
- Portugal - oil infrastructure
- Portugal - gas infrastructure
- Fiscal terms: Table 1
- Fiscal terms: Table 2
- Fiscal terms: Table 3
What's included
This report contains:
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