Greece Oil and Gas Report - Business Monitor International - Industry Reports

Greece Oil and Gas Report

Greece Oil and Gas Report - Business Monitor International - Industry Reports
Greece Oil and Gas Report
Published Oct 15, 2016
79 pages — Published Oct 15, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

Gulf of Patras (Offshore): The licence for this was awarded to Hellenic Petroleum and its partners Edison International and Petroceltic (which in December ---- sold its stake to Edison and ELPE, now --:-- equity holders). Information provided by the ministry suggests that there are interesting oil prone structures in this block and recoverable resources are estimated at around ---mn bbl. ...Oilfield services giant Schlumberger will be Energean s Strategic Technical Partner on the field. Available data from the energy ministry estimates that there could be about --mn to --mn bbl of recoverable oil in this area, though is likely located in deep targets in a mountainous terrain. It could also require a high cost of seismic and drilling activities at the exploration stage. ...The total planned investment during the exploration phase will be EUR--.-mn. Exploration drilling is planned for H--- and a final development investment decision is due in late ----.

...We have maintained our forecasts for natural gas and fuels consumption, with the former growing by - in ---- to -.-bcm and the latter contracting for the --th consecutive year by -.-- in ---- to ---,--- b/ d. The start of liberalisation of the retail gas market raises scope for more competitive pricing and therefore an upside for our natural gas consumption forecasts; while the introduction of new special levies on major fuel categories increases downside risks to the fuels consumption forecast. ...We have maintained our forecasts for natural gas and fuels consumption, with the former growing by - in ---- to -.-bcm and the latter contracting for the --th consecutive year by -.-- in ---- to ---,--- b/ d. The start of liberalisation of the retail gas market raises scope for more competitive pricing and therefore an upside for our natural gas consumption forecasts; while the introduction of new special levies on major fuel categories increases downside risks to the fuels consumption forecast. Refined fuels exports from Greece will remain the country s largest export by a wide margin and will increase in ---- by -.- according to our forecasts as margins for refiners remain very healthy but the domestic market depresses further, leaving more available for exports. ...We maintain our forecasts for E&P steady this quarter despite the First International Licensing Round contracts being in their final stages and Hellenic Petroleum s assessment that the Gulf of Patras offshore prospect could hold a significant amount of hydrocarbons. On the one hand, the blocks under the First International Licensing Round will probably have a prolonged exploration period with Energean outlining a seven-year exploration timeframe for the Aitoloakarnania blocks, whereas Hellenic s announcement that is could have oil in place of ------mn bbl in the Gulf of Patras block is highly speculative considering seismic studies are still under review.

...The application of new seismic technologies by Greek independent Energean O&G in its Prinos and Kavala fields has prompted an increase in the P- reserves estimates for Greece to --mn barrels (bbl) of crude oil in ---- (of which --mn are the newest estimates). Energean says P- reserves in the Prinos, Prinos North and Epsilon fields in the Kavala cluster are --mn bbl. ...

  
Source:
Document ID
1748-3972
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Greece Oil and Gas Report" Oct 15, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Greece-Oil-and-Gas-Report-2026-258>
  
APA:
Business Monitor International - Industry Reports. (2016). Greece Oil and Gas Report Oct 15, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Greece-Oil-and-Gas-Report-2026-258>
  
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