A global total of 32 oil and gas discoveries were made during Q1 2017, including 22 for conventional oil, and ten for conventional, according to a report by GlobalData. 

Titled ‘Q1 2017 Global Oil and Gas Discoveries Review – Offshore Discoveries Continue in Norway’, the report states that both South America and Europe led globally with six discoveries each during the quarter.

The two regions were followed by Asia and Former Soviet Union (FSU) with five each, and Africa and Oceania with three discoveries. 

By country, Norway, Russia, and Australia led globally with five, four and three discoveries respectively.

"By country, Norway, Russia, and Australia led globally with five, four and three discoveries respectively."

Norway reported three conventional oil discoveries, one each in the North Sea basin, Norwegian Sea Basin and Barents Sea basin. In addition, two conventional gas discoveries were made in the Norwegian Sea basin and North Sea basin.

Four conventional oil discoveries were made in Russia’s Volga-Ural basin, while one for conventional oil and two conventional gas discoveries were found in Australia’s Cooper/Eromanga basin.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Company-wise, Statoil ASA, ExxonMobil Corporation, and Oil and Natural Gas Corporation were the leading operators with four, two and two discoveries respectively. 

The number of onshore discoveries during the quarter was 22, while five were shallow water discoveries, with three deepwater and two ultra-deepwater discoveries.