OVERVIEW AND PRICING
Q1 2016
EUROPE, BLACK SEA, NORTH AFRICA COMMERCIAL OIL & GAS LICENSE ACTIVITY AND PERSONAL CONTACT INFORMATION
What exactly will you get? Each quarter, you will receive a detailed oil and gas brief (PDF) and comprehensive license information (XLS) and personal contact information. The files are provided in digital and print, on the following dates: Jan 20, Apr 20, Jul 20 and Oct 20.
Brief: Unconventional O&G in EU-28 ernments own the rights to mineral resources.
Over the last half year, the number of European unconventional oil and gas wells drilled has increased, although the market in general is sluggish.
The Netherlands and Ireland have both put a temporary ban on fracking ahead of further research. Germany has been working on stringent rules regarding fracking. According to the planned regulation, if a company decides to frack then it must follow strict regulations and meet certain conditions such as a mandatory EIA. Fracking projects for coal bed methane (CBM) or shale gas less than 3000 meters deep are to be banned until 2021.
The current hot spot is the UK: all eyes are on the upcoming results of the 14th onshore licensing round, expected to boost shale gas exploration on the back of estimated good geology in the Bowland play. Exploration in Poland is on-going but has been fading of late. Poland has seen a number of companies relinquish their licenses. In the most strikingly negative development, the one-time leader in exploration, 3Legs Resources, decided to give up on its Baltic concessions after disappointing results from a production test of one of the wells.
What is the added value? Inside EXPLORER you will find:
Bulgaria, France, Luxembourg and the Canton of Fribourg in Switzerland have effective moratoriums on exploratory drilling. North Ireland recently rejected an application submitted by Tamboran Resources to drill an exploratory well due to environmental concerns. •
Exploration in Poland is now largely on the shoulders of only a few companies. San Leon Energy and ConocoPhillips continue to say publicly that they will continue operating their concessions. Other active operators are BNK Petroleum, which has recently announced it is seeking a partner to team up for exploration in Poland, state-controlled companies PGNiG and Orlen Upstream and Chevron (though rather indirectly via know-how and data sharing agreement with PGNiG).
LICENSING DOWN, DRILLING UP
On the other hand, Denmark will see its first shale gas well by Q1 2015, drilled by Total E&P Denmark and state-owned Danish North Sea Fund. EXPLORER INTEL: HOT SPOT UK Over the last half year, the number of European unconventional oil and gas wells drilled has increased, although the market in general is sluggish. The current hot spot is the UK: all eyes are on the upcoming results of the 14th onshore licensing round, expected to boost shale gas exploration on the back of estimated good geology in the Bowland play. Exploration in Poland is on-going but has been fading of late.
No. of wells
Q1
600
CONCESSIONS AND WELLS
Q2
Q3
Q4
500
Romania saw a wave of environmentalists protests, which delayed completion of a Chevron’s shale well. Chevron, which also has rights to explore three licence blocks near the Black Sea, does not have plans to use fracking under its five-year exploration programme, meaning their exploration program has stalled.
400 300 200 100
In Spain, the Spanish Constitutional Court declared two anti fracking laws passed by the regional parliaments of Cantabria and La Rioja in April and June 2013, respectively, as unconstitutional. At this moment, there are 70 licenses approved by Spain’s oil and gas ministry, 57 are being examined for approval, and 23 licenses were issued for hydrocarbon production. Development of unconventional oil and gas could take place on some of those concessions, although Spain does not make a difference between conventional and unconventional permitting.
0
Concessions
Wells
Concessions
Wells
Concessions
Wells
Others
Sweden
Poland
United Kingdom
Spain
Germany
Concessions
Wells
On top of the unimpressive pace of exploration in Europe to date, there lies a political question: what direction will the new European Commission (in office since November 1) give the EU in terms of development of its energy mix? The Commission will definitely want to address the issue of some €400bn that the bloc pays each year for energy imports, much of it for gas.
Elsewhere in Europe, shale gas is hardly in favor with authorities that have a decisive say in getting exploration off the ground, as typically gov-
SOURCE: CLEANTECH RESEARCH
EU-28 DATABASE ON COMMERCIAL LICENSE RIGHTS AND PERSONAL CONTACT INFORMATION | BRIEF
BRIEF
• who is contracting seismic services? • who is contracting drilling services? • who is contracting for completions, pumping services? • who is producing oil and gas, where, in what volumes? • which service and supply companies are active • which proppant, sand and chemicals are being used?
Others
500
United Kingdom
United Kingdom
400
Sweden
300
Spain
Aberdeen
200
Poland
100
Germany
02014 Q1
2014 Q2
2,5
2,0
1,5
1,0
5
EXPLORER INTEL: NEW OPPORTUNITIES? Number of concessions:
188
Manchester Liverpool
Number of wells drilled to date:
13
Number of active operators:
Birmingham
6
London
Shale gas reserves estimate:
3,681 bcm
Bristol
Current concessions Areas under 14th licensing round
WHO’S WHO
EU-28 DATABASE ON COMMERCIAL LICENSE RIGHTS AND PERSONAL CONTACT INFORMATION | WHO’S WHO UK
EU-28 unconventional O&G activity
P. 14
FINLAND SWEDEN NORWAY
19
ESTONIA RUSSIA
LEGEND
LATVIA
1
13 IRELAND
DENMARK LITHUANIA
Countries where active exploration (i.e. drilling) takes place
UNITED KINGDOM
RUSSIA
NETHERLANDS
BELARUS
Other countries potentially interested in development of unconventional oil & gas
POLAND
BELGIUM
Countries with moratoriums on hydraulic fracturing
GERMANY
71
LUXEMBURG
CZECH REPUBLIC
UKRAINE
SLOVAKIA
Lack of commercial interest/ national interest FRANCE
SWITZERLAND
AUSTRIA HUNGARY SLOVENIA
Unconventional oil & gas basins
ITALY PORTUGAL
Wells
• over 2000 license right and personal contact information • analyze which are the best farm in/farm out opportunities • perform detailed calculations on acreage valuations
2014 Q4
Belfast
65%
RAW DATA
2014 Q3
Glasgow
Percentage of imported gas in total gas consumption:
• country by country overview of who’s active • licenses held, wells drilled, results to date • links to RFPs, tenders, invitations to bid • detailed license maps by license holder
P. 5
600
ROMANIA
CROATIA
BOSNIA
SPAIN
SERBIA BULGARIA
MONTENEGRO
MACEDONIA
ALBANIA
TURKEY
GREECE
Of major trends that play a role in the development of unconventional oil and gas in Europe, three could be in favor: EU’s climate policy that could push utilities away from coal toward gas, the crisis in relationships with Russia over its invasion of Ukraine, and the EU’s idea of so-called Energy Union. Falling oil and gas prices, on the other hand, discourage investment in unconventionals that are seen risky by financiers.
EU-28 DATABASE ON COMMERCIAL LICENSE RIGHTS AND PERSONAL CONTACT INFORMATION | BRIEF
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Who uses the data? The EXPLORER is used by two target groups: OILFIELD SERVICE AND SUPPLY COMPANIES Developed for the needs of business development managers and key account managers, the EU EXPLORER provides current contact information to all senior and C-level decision makers, so you don’t waste time looking for the wrong person at the wrong company. FINANCIAL & INSTITUTIONAL PROFESSIONALS Are you estimating resources in place? Calculating forward supply curves? Responsible for briefing your institution about onshore oil and gas? EU EXPLORER works for financial and institutional professionals who need timely, key data, detailed maps and information.
What does it cost? The EXPLORER is available as a subscription: • 1500 EUR per quarter • Risk free for 30 days • 2 year contract term • Customized segmentation, at no added cost Subscribe today and receive the following modules at no added cost: Q1 2016 - Midstream gas pipelines overview Q2 2016 - German turnover refinery market Q3 2016 - Middle East oil and gas markets Q4 2016 - LNG trade throughout EMEA
SAMPLE PAGE CURRENTLY VALID CONCESSIONS Name
Acreage (km²)
Wells
Wejherowo
731
8
Kartuzy-Szemud
783
1
1,178
2
Stara Kiszewa
PGNiG IN 2015
"172"
937
-
Poland’s national oil and gas company continues to prospect its unconventional gas acreage, mainly with respect to shale gas. The company’s strategy for 2014-2022 lists shale gas as one of E&P priorities, with commercial production of gas from shales the ultimate goal, although depending on a number of factors, primarily:
"173"
937
-
"192"
922
-
"193"
942
-
Kock-Tarkawica
1,028
1
Wiszniów-Tarnoszyn
1,106
1
Tomaszów Lubelski
741
2
Górowo Iławeckie
1,094
-
Pakosław Krotoszyn
1,096
-
•
correct estimation of resources
•
t eaming up with external partners to prospect acreage (the company is already cooperating with Chevron on four concessions: Tomaszów Lubelski, Wiszniów-Tarnoszyn, Zwierzyniec, and Grabowiec)
The company is now moving on to horizontal drilling and hydraulic fracturing of Tępcz, Mingajny-1, Miłowo-1, Opalino-4, Opalino-3 and Lubocino-3H wells in the Baltic Basin; tenders for these services are still to be announced. The company earmarked about €70 million for shale gas exploration in Poland in 2015. The money will also go toward drilling of around 10 wells in prospective Baltic Basin concessions such as Wejherowo, Stara Kiszewo. On the domestic market, PGNiG is under strong competition as the private gas market grows; from Jan 2013 increasing volumes of gas have to be traded in the open market.
Gdańsk Olsztyn Szczecin Bydgoszcz
Poznań WARSZAWA Łódź Wrocław
CONTRACTORS
Katowice
Company
Service type
Scope of service
Geofizyka Toruń (GT), Geofizyka Kraków
Seismic
undisclosed
Exalo Drilling
Drilling
undisclosed
Pipes
Pipes (Pup-joints, x-overs, tubing)
Tenaris
Lublin
Kraków
Rzeszów
Concession area
RECENT AND CURRENT TENDERS Service
Scope
Drilling
Reconstruction of the Niebieszczany-1 well
Announced 03/01/2015
Deadline
Link
Contact person
15/01/2015
http://ted.europa.eu/udl?uri=TED:NOTICE:28472015:TEXT:PL:HTML
Justyna Czuprynska, tel.: (+48) 22 58 941 98 justyna.czuprynska@pgnig.pl
At the moment, there is no information about further tenders.
CONTACT INFORMATION Title President of the PGNiG Management Board Vice-President, Finance Vice-President, Exploration and Production Director, Geology and Production Vice-Director, Geology and Production Director, Exploration Head of Investor Relation Coordinator for drilling equipment
First Name Mariusz Jarosław Zbigniew Jarosław Andrzej Maciej Adam Marian
Last Name Zawisza Bauc Skrzypkiewicz Polit Maksym Nowakowski Kucza Szymczak
Phone (+48) 22 589 4555 (+48) 22 589 4555 (+48) 22 589 4555 (+48) 22 589 4555 (+48) 22 589 4555 (+48) 22 589 4555 (+48) 22 589 45 55 (+48) 603 963 855
Email mariusz.zawisza@pgnig.pl jaroslaw.bauc@pgnig.pl zbigniew.skrzypkiewicz@pgnig.pl jaroslaw.polit@pgnig.pl andrzej.maksym@pgnig.pl maciej.nowakowski@pgnig.pl adam.kucza@pgnig.pl marian.szymczak@pgnig.pl
EU-28 DATABASE ON COMMERCIAL LICENSE RIGHTS AND PERSONAL CONTACT INFORMATION | WHO’S WHO POLAND
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