Chances and risks in the future E&P of Eastern-Central Europe (ECE)

Eastern-Central Europe is a mature region in terms of hydrocarbon exploration and production. Its oil and gas reserves and production are in decline. Reserves replacement requires the identification of new opportunities. Several opportunities are being reviewed for their volume potential and economic viability, and, in particular, for their chances and risks. Adequate opportunities in this respect are exploration for hydrocarbons in the region s thrust belts, the drilling of offshore plays of the Black Sea, and the delivery of smaller gas reserves to spot markets and/or independent power plants. The latter opportunities require the implementation of new approaches. As to the exploration-driven opportunities, risk lowering will obviously be achieved by the application of 3D seismic. Several of the identified opportunities will require substantial financial exposure.