- There were 28 oil and gas discoveries made globally in Q3 2016. Of these, 13 are conventional oil and 13 are conventional gas. Unconventional gas and unconventional oil accounted for one discovery each.
- A total of 129 oil and gas discoveries were made in the first three quarters of 2016. Of these 64 are conventional oil, 60 are conventional gas, three are unconventional gas and two are unconventional oil.
- Among regions, Asia leads globally with six discoveries in Q3 2016. Europe and Africa were second with five discoveries each, followed by South America with four discoveries.
- In Q3 2016, Norway had the highest number of discoveries globally at five. Egypt and Pakistan had the second highest number of discoveries with four each. The US is in the third position with three discoveries.
- In Norway, all the five discoveries were made in the North Sea Basin. Two of them yielded conventional gas and the rest conventional oil.
- Three of the four discoveries in Pakistan were made in the Indus Basin and one in the Potwar basin. All the discoveries yielded conventional gas.
- Two of the four discoveries in Egypt were made in the Eastern Desert Basin and one each in the Western Desert and Abu Gharadig basins. Of the four discoveries, three yielded conventional oil and one conventional gas.
- Statoil ASA., Transglobe Energy Corporation, YPF S.A., and Canacol Energy Ltd had two discoveries each in Q3 2016, the highest among all the operators.
In Q3 2016, onshore and shallow water terrains accounted for 18 and 6 discoveries respectively. Deepwater accounted for three discoveries while the remaining was ultra-deepwater.
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Published: Dec 2016
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