GlobalData's Oil and Gas Discoveries Review report highlights that key South Asian countries, India and Pakistan, have been in the forefront of the global oil and gas discoveries landscape. Of the 129 oil and gas discoveries that were made globally in the first three quarters of 2016, India and Pakistan accounted for 33.

GlobalData’s research report suggests that 28 oil and gas discoveries were made globally in Q3 2016. Of these, Asia leads globally with six discoveries, followed by Europe and Africa with five discoveries each. In this quarter, South America witnessed four discoveries. Of the six discoveries in Asia, India and Pakistan together accounted for five. In Pakistan, three of the four discoveries were made in the Indus Basin and one in the Potwar basin. All the discoveries in Pakistan yielded conventional gas.

The report shows that in Q3 2016, onshore and shallow water terrains accounted for 18 and 6 discoveries respectively. Deepwater accounted for three discoveries while the remaining was ultra-deepwater.

Research in the report also highlights that Statoil ASA., Transglobe Energy Corporation, YPF S.A., and Canacol Energy Ltd had two discoveries each in Q3 2016, the highest among all the operators.

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By GlobalData

The new GlobalData report clearly indicates that whether in the first three quarters of 2016, or in Q3 2016, South Asia has emerged as the new global hub for the global oil and gas discoveries.

Related report

Q3 2016 Global Oil and Gas Discoveries Review – South Asia Dominates Global Discoveries Landscape
Globally more than 120 oil and gas discoveries were made in the first three quarters of 2016. In Q3 more than 25 discoveries were made globally, majority of which are conventional oil and gas. Among regions Asia, Europe and Africa lead globally in terms of discoveries in Q3 2016. Among countries Norway, Egypt and Pakistan lead in the number of discoveries. India had the highest discoveries in the first three quarters of the year, followed by Pakistan. Onshore and shallow water discoveries were higher when compared to the deepwater and ultra-deepwater discoveries.