Colombia Leads Discovery Charge in 2Q

Colombia saw the most oil and gas discoveries in the second quarter (2Q), according to new report from GlobalData.

The report revealed that seven discoveries were made in the country during the period, all of which were onshore. Two of these were conventional gas finds made in the Lower Magdalena Valley basin and five were conventional oil finds spread across the Putumayo and Llanos Orientales basins, GlobalData’s report highlighted.

Colombia was followed in the global discovery race by India, Russia and Pakistan, according to the report, which showed that each country made three oil and gas discoveries during 2Q.

A total of 33 oil and gas discoveries were made during the quarter, according to GlobalData’s latest study, which showed that, among regions, Asia led with 10 discoveries, followed by South America and Africa with nine and five discoveries, respectively.

The Former Soviet Union had four discoveries, while Europe and North America had two discoveries each in the quarter. The Middle East had one, Karish North, a conventional gas discovery, during the period.

Oil and gas exploration got off to a flying start in the first quarter (1Q), according to independent energy research and business intelligence company Rystad Energy. The company revealed earlier this year that global discoveries of conventional resources in 1Q reached 3.2 billion barrels of oil equivalent.

GlobalData defines itself as the “gold standard” data provider to the world’s largest industries. The company was formed in 2016 following the consolidation of several data and analytics providers.