SOUTHERN EUROPE

SOUTHERN EUROPE (Western Europe)	Albania Austria Greece Italy Serbia Spain	POPULATION: mm AREA (on): km² OIL PEAK: 1988
SUPPLY Southern European oil production is limited to the Vienna Basin and small areas of the Mediterranean and Adriatic Seas along with adjacent onshore areas. Output has been declining since 1988. This decline will continue despite new initiatives to promote exploitation of smaller fields and some modest deep water success. Gas production peaked in 1995 but, after years of decline is increasing once more as new areas are exploited, especially on and offshore Italy and offshore Croatia. Total gas output is expected to peak again around 2017. DEMAND Oil demand growth has been reversed by higher prices, the 2008/2009 recession, and the influence of environmental concerns. Imports will flatten off due to price-led demand drops. After a flat period gas demand growth will continue in southern Europe. Imports are expected to progressively increase from all gas producing areas surrounding Southern Europe from 2010 but particularly from North Africa.
		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.*