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January 31, 2019

Russia and Colombia post highest number of discoveries in Q4 2018

A total of 23 oil and gas discoveries were made in Q4 2018 globally.

By GlobalData Energy

A recently published global report of the number of oil and gas discoveries in the last quarter of 2018 has put Russia and Colombia on top.

According to a 17-page report by GlobalData, a total of 23 oil and gas discoveries were made in Q4 2018 globally. Of these, 13 were conventional oil and the remaining 10 were conventional gas discoveries.

Oil discoveries 2018

Regions

Among regions, Asia led the way with seven discoveries, followed by Europe and South America with four discoveries each. Meanwhile, Russia had three discoveries, African and North America had two discoveries each and Oceania had one discovery in the quarter.

Countries

Among countries, Russia and Colombia had the highest number of discoveries with three each, followed by Norway, India and Indonesia with two discoveries each. The rest of the countries had one discovery each during the quarter.

Corporations

In Russia, two natural gas discoveries – Obskoye North (Severo-Obskoye) and PO-1 – were made in the West Siberian basin and an oil discovery – Triton – was made in the Okhotsk basin. All three of Colombia’s discoveries – Acorazado-1, Danes-1, and Indico-1 – are in the Llanos Orientales basin, and all are conventional oil discoveries.

Oil and gas discoveries by country, Q4 2018

Source: Upstream Analytics

Among operators globally, Eni SpA, Equinor Energy AS, OAO Novatek, and Oil India Limited led with two discoveries each. The rest of the operators had one discovery each in the quarter.

Terrain

Of the 23 discoveries, 13 were onshore, five were shallow water, while ultra-deepwater and deepwater terrains accounted for three and two discoveries, respectively.

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