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
22 November 2024
The Energy Transition Advancement Index highlights how the kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
