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
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