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April 24, 2019

Norway leads with highest number of oil and gas discoveries in Q1 2019

By GlobalData

GlobalData’s latest report, entitled ‘Q1 2019 Global Oil and Gas Discoveries Review – Norway Leads with Highest Number of Discoveries in the Quarter’ indicates that globally 23 oil and gas discoveries were made in Q1 2019.

Of these, 11 each are conventional oil and conventional gas discoveries. L46/16- 31 was the only unconventional gas discovery in the quarter made in the UK.

Norway oil and gas 2019

In Q1 2019, among regions, Europe leads with eight discoveries, followed by Africa with four discoveries. North America and South America had three discoveries each in the quarter, while Asia and the Former Soviet Union (FSU) had two discoveries each. Oceania had only one discovery, Orchid-1, a conventional gas discovery, in Australia.

Among countries, Norway had five discoveries, the highest among all countries globally. The US followed with three discoveries. Russia, Egypt, Guyana and the UK had two discoveries each in the quarter. Australia, Indonesia, Angola, and Bolivia had one discovery each during the period.

In Norway, two natural gas discoveries – 6406/2-9 S and 6406/6-6 S, and an oil discovery 34/8-18 S – were made in the Norwegian Sea Basin, two oil discoveries – 24/9-14 S and 35/11-22 S – were made in the North Sea Basin. The US had three oil discoveries – Mississippi Canyon 387-4138900 and Mississippi Canyon 520-4138100 ST in the Gulf of Mexico Basin and Alkaid 1 in the North Slope Basin.

Count of Oil and Gas Discoveries by Key Countries in Q1 2019

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Source: Upstream Analytics, GlobalData

Among operators globally, Statoil ASA and Exxon Mobil Corp led with three discoveries each in Q1 2019. Eni SpA and Total SA followed with two discoveries each. The rest of the operators had one discovery each during the quarter.

Of the 23 discoveries in Q1 2019, onshore terrain accounted for the most with seven discoveries. Deepwater terrain followed with six discoveries. Shallow water and ultra-deepwater terrains accounted for five discoveries each during the quarter.

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