GlobalData’s latest report, ‘Q3 2017 Global Oil and Gas Discoveries Review – Rosneft Sees Oil Discoveries Spike in Russia’, indicates that a total of 30 oil and gas discoveries were made in the third quarter of 2017. Of these, 18 are conventional oil, one is heavy oil, one is unconventional gas, and the remaining 10 are conventional gas.

In the third quarter of 2017, the former Soviet Union leads with eight discoveries, followed by Europe with seven discoveries, and Asia with four discoveries. Oceania and Africa had three discoveries each, while North America and South America had two discoveries each and the Middle East had one discovery.

Among countries, Russia leads with eight discoveries, followed by Norway and Australia with five and three discoveries respectively. Pakistan and Senegal had two discoveries in Q3 2017.

Count of oil and gas discoveries by key countries in Q3 2017, compared to Q2 2017

Source: Upstream Analytics, © GlobalData

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In Russia, all eight discoveries yielded conventional oil, with two located in the West Siberian Basin and the rest in the Volga-Ural Basin. In Norway, among five discoveries, four finds yielded conventional gas from the Barents Sea Basin and Norwegian Sea Basin, while the remaining one yielded conventional oil from the Barents Sea Basin.

In Australia, among three discoveries, two discoveries yielded conventional oil, one from offshore terrain and other from shallow water terrain, and the remaining one yielded conventional gas from onshore terrain.

Among operators, Rosneft Oil Company leads among operators with seven discoveries, followed by Statoil ASA with five discoveries, and Oil and Natural Gas Corporation Limited (ONGC) and Cairn Energy Plc with two discoveries each. The remaining operators had one discovery each in the third quarter of 2017.