Germany’s long-established oil industry may offer additional growth opportunities
Beacon Energy reveals German upstream plans
The independent sees a long-term future for German oil production, despite the country’s influential green lobby
Germany is not a country often discussed in terms of conventional upstream oil production. Nevertheless, AIM-listed independent Beacon Energy recently acquired private German company Rhein Petroleum, along with the latter’s portfolio of producing and prospective fields in Germany. Beacon CEO Larry Bottomley and CFO Stewart MacDonald spoke to Petroleum Economist about their expansion plans and Germany’s renewed support for its upstream sector. Rhein is a cash-generating business, with two fields in production—one operated, one non-operated—that provide Beacon with a net 50bl/d. But the Rhein Petroleum portfolio also comes with development and exploration opportunities, which will be Beacon’s
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
