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2008 saw the highest oil price in history dropping to a moderate level due to the beginning of the global financial crisis. During the last year the discussion about "peak oil" has started. Nevertheless, hydrocarbon energy will play an important role for the next generations. The work describes the current status of reserves, an overview of the current situation of the oil and gas industry, but also some technologies of alternative energy. Based on the history of some exploration and production companies the most important influencing factors can be found. For four different scenarios, the oil price and the energy target 2020 are varied from low to high. The energy mix 2020 and the main trends for the next few years are described in four different scenarios. The main strategic issues for an integrated European oil and gas company are found by using the scenario technique.

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Alexander Gerstner, born 1971 in Vienna, Grammar School at Laa/Thaya, Lower Austria, Master of Petroleum Engineering at the Mining University of Leoben,MBA at the Danube University of Krems, Drilling Engineer at RWE Dea AG in Hamburg (2001-2005), Since 2005 Drilling Engineer, Production Engineer and Project Manager at OMV Austria E&P.

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