EASTERN EUROPE

(Europe/FSU)

 

POPULATION:  mm

AREA (on):  km2

OIL PEAK:  (forecast)

 

SUPPLY

Eastern European countries have been producing onshore oil and gas for decades and all countries are now in permanent decline.

There also seems to be very little potential for new offshore production with both the Black and Baltic Seas in Eastern Europe apparently having poor geological potential.

 

DEMAND

The economies of Eastern Europe were recovering after the break up of the Soviet Union and as membership of the European Union enhanced investment. However the 2008/2009 recession hit the region severely and oil consumption is likely to remain flat at best, at least in the short term, after declining from 2007. Gas consumption fell in 2007 but demand should pick up again after 2009 whilst supplies become more freely available for a period.

With declining indigenous production and growing demand, gas import requirements are growing. This is both to satisfy economic growth and for fuel substitution. Meanwhile oil imports will remain flat as a result of high prices and poor economic growth.

 

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 region can be commissioned,

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

 

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