Hydrocarbons in Spain - exploration and production

Spain cannot be considered a prolific hydrocarbon country. Based on data as of April 1992, annual domestic crude oil production accounts for only 2% of consumption (1.1 MM tons against 53.8 MM tons) and gas production accounts for only 17% (40 bcf against 232 bcf). These percentages will decrease as consumption increases and more oil and gas is imported. The main reason for the low levels of production in Spain is the geological complexity of the Iberian Peninsula which leads to difficult exploration and causes structures containing hydrocarbons to be broken up into small accumulations. Another most important factor is the low level of exploration work. In the last 40 years, only some 700 wells have been drilled in contrast to much larger numbers in neighbouring France and Italy. Today only two oil fields (Casablanca and Ayoluengo) and two gas fields (Gaviota and Marismas) are producing. The Serrablo gas field, in the Pyrenees, is used for gas storage.