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EASTERN EUROPE

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

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

The economies of Eastern Europe are recovering after the break up of the Soviet Union and as membership of the European Union is granted. Although oil consumption is unlikely to rise significantly, gas demand has been increasing since 2000 and will probably continue to increase at the same rate.

With declining indigenous production and growing demand, gas import requirements are also growing. This is both to satisfy economic growth and for fuel substitution. Meanwhile oil imports will continue to rise before falling back after 2012 as a result of high prices.

• Bulgaria

• Czech Republic

• Hungary

• Poland

• Romania

• Slovakia

Population

100 million

Onshore area

(000's sq kms)

Offshore area

(000's sq kms)

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