Netherlands Oil and Gas Exploration and Production Market Volumes and Forecast by Terrain, Assets and Major Companies, 2021-2025

The Netherlands’s total gross crude oil and condensate production in 2020 was valued at 18,811 bd and is forecasted to show a declining CAGR of more than -6.5% between 2021-2025. The Netherlands is currently Europe’s leading producer of natural gas. The sector has been historically dominated by the giant onshore Groningen gas field in the Northwest German Basin onshore and has been producing since 1963 with the remainder of resources predominantly in small fields which lie either offshore in the shallow-water North Sea or onshore. The Groningen field production peaked in the late 1970s to early 1980s at over 880,000 boed, 99% of which is natural gas with the remaining volumes being condensate. As a result of concerns over seismic risk in the region, production from the field has declined over the past decade as a result of output caps and it is due to be taken off-stream prematurely in 2022. Crude oil and condensate production in the country peaked in 2003 at approximately 44,000 barrels per day and 2020 saw the lowest supply from the country in over a decade due to the impacts of COVID-19. The Netherlands has begun to curb the production of crude oil in response to the changing climate in Europe and efforts to cut carbon emissions.

Overview of Netherlands crude oil and condensate production

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What are the market dynamics of the Netherlands’ exploration & production market?

In 2021, total production in the Netherlands is forecast to decline by approximately 6% as a result of the wind-down of the Groningen field and the ultimate cessation of production during 2022. Production from the country has been in decline continuously for the last decade primarily due to the steps taken by the Dutch government to limit seismic activity caused by production activities around the Groningen field which historically accounted for the majority of the country’s total production.

The Netherlands is forecast to see a slight increase in crude oil production in 2021 and 2022 as a result of the bounce back in demand post lockdown Europe and increasing production from the Schoonebeek field. However, post-2022, there are no new projects which would be able to stabilize the country’s crude oil production and the large Rembrandt-Vermeer development has been shelved by Wintershall Noordzee citing delays in obtaining an environmental permit. Without this development, the Netherlands has a declining outlook for oil production.

The outlook for natural gas production is also concerning as the country has no planned or announced fields which would be able to replace the production volumes from Groningen once it is decommissioned. This will force the Netherlands along with many other European countries to rely more heavily upon gas volumes from outside of Europe and as we have seen during 2021, this has caused a significant rise in gas prices. The majority of developments in the last decade in the Netherlands have been small, onshore and offshore fields with a maximum production of just a few thousand barrels of oil equivalent per day and are insufficient for supplying the country’s growing demand for gas.

What are the key categories of the Netherlands’s crude oil and natural gas production?

The Netherlands crude oil and natural gas production is categorized by terrain into onshore and shallow water. The shallow water category accounted for the largest share in crude oil production while the onshore category in natural gas production. The major assets in Netherlands’s crude oil and condensate production include Schoonebeek (Olie), Sillimanite and F02a-Hanze, Rotterdam, and Q13a-Amstel. Similarly, the major assets of the Netherlands’s marketed natural gas production include Groningen, K05a-D, A18-FA, and D12-B.

Exploration & production market in the Netherlands, by type

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Which are the key players in the exploration & production market in the Netherlands?

The key players in the Netherlands exploration & production market are EBN BV, Exxon Mobil Corp, Royal Dutch Shell Plc, Neptune Energy Group Ltd, and Korea National Oil Corp. The major companies in the Netherlands’ natural gas production consist of EBN BV, Exxon Mobil Corp, TotalEnergies SE, and Royal Dutch Shell Plc. EBN BV was the leading company in both natural gas production, and crude oil and condensate production in the Netherlands, in 2020. Exxon Mobil Corp will be dominating both sectors during the forecast period also.

Exploration & production market in the Netherlands, by key players

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Market report scope

Scope

This report provides an overview of the Netherlands’ exploration & production sector. The report includes:

• Key details of active and upcoming oil and gas assets in the country.
• Recently licensed blocks details, licensed blocks count by company, and latest discoveries.
• Latest mergers and acquisitions, and awarded contracts related to the E&P sector in the country.

Reasons to Buy

• Gain a strong understanding of the Netherlands’s E&P sector.
• Facilitate decision-making based on strong historical and outlook of oil and gas production data, licensed blocks details, and discoveries.
• Assess your competitor’s production outlook and licensed blocks count in the country.
• Analyze the latest M&A landscape and awarded contracts related to the country’s E&P sector.