(in Southern Europe)



AREA (on): 131,900 km2

OIL PEAK: 1984


Oil production from Greece peaked in 1981. Most oil has been recovered from just one field and its satellite, the Prinos field in the North Aegean Sea, now abandoned. Only very small discoveries have since been found in the region despite considerable exploration effort. With its poor reservoirs there is little chance for significant new output in the country.

Greece currently produces very little gas although it did produce larger quantities of associated offshore gas in the past. There is some potential for additional small onshore gas accumulations.



Greece imports nearly all of its oil and consumption has grown since 1996 as Greece’s economy has grown at above average rates. After the price-led dip in 2007 and 2008 modest increases are expected through to 2016 when higher prices will again quell demand.

Gas consumption is limited to small volumes, nearly all imported from Russia by pipeline and from Algeria as LNG.





This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.


An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.


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