Report: Asia led globally with highest number of oil and gas discoveries in Q2

10 August 2017 (Last Updated August 10th, 2017 18:30)

Asia recorded the highest number of oil and gas discoveries during the second quarter of 2017, according to a report by GlobalData.

Report: Asia led globally with highest number of oil and gas discoveries in Q2

Asia recorded the highest number of oil and gas discoveries during the second quarter of 2017, according to a report by GlobalData.

Titled ‘Q2 2017 Global Oil and Gas Discoveries Review - Discovery Success Continues in Colombia’, the report states that a total of 21 oil and gas discoveries were made during the quarter.

Seven out of the total discoveries are conventional oil, while 13 are conventional gas and one is heavy oil.

In terms of continents, Asia had the highest number of discoveries at seven, followed by Africa and South America with four each, the Caribbean with two and Europe, Former Soviet Union, Middle East, North America, and Oceania with one each.

"Seven out of the total discoveries are conventional oil, while 13 are conventional gas and one is heavy oil."

In terms of counties, Colombia led with a total of four discoveries, followed by India and Pakistan with three and Trinidad and Tobago with two each.

Out of the four discoveries made in Colombia, two were conventional gas and two were oil discoveries.

India registered three conventional oil discoveries, while Pakistan recorded three conventional gas discoveries.

Among operators, Oil India and BP had the highest number of discoveries at four each.

Out of the 21 discoveries made during the quarter, 12 were on onshore terrain, seven were discovered in shallow water, and the remaining two were ultra-deepwater discoveries.