Which Region Saw the Most Discoveries in 3Q?



Which Region Saw the Most Discoveries in 3Q?
South America and Europe saw the most oil and gas discoveries in the third quarter, according to GlobalData's new global oil and gas discoveries report.

South America and Europe saw the most oil and gas discoveries in the third quarter (3Q), according to GlobalData’s new global oil and gas discoveries report.

The report revealed that each region made eight finds during the period and that a total of 38 oil and gas discoveries were made globally in 3Q.

Six of the eight discoveries in South America were conventional oil finds, with the other two comprising a conventional gas discovery and a heavy oil discovery, the report highlighted. Europe had five conventional oil discoveries and three conventional gas discoveries during the quarter, according to the report.

Asia and Africa saw the second most oil and gas finds in 3Q with five discoveries each, the report revealed. Asia had three conventional gas discoveries and two conventional oil discoveries in the quarter, while Africa had four conventional oil discoveries and one conventional gas discovery, the report showed.

Among countries, Norway had the highest number of discoveries globally with six, followed by Colombia with five discoveries, according to the report.

“In South America, Guyana-Suriname Basin and Llanos Orientales Basin had the highest number of discoveries in the quarter with three conventional oil discoveries each,” Adithya Rekha, an oil and gas analyst at GlobalData, said in a company statement.

“In Europe, North Sea Basin had the highest number of discoveries with three conventional oil discoveries and a conventional gas discovery,” Rekha added.

Back in July, GlobalData revealed in a report that Asia made the most oil and gas discoveries in the second quarter (2Q), followed by South America and Africa. A total of 33 oil and gas discoveries were made during 2Q, according to that report.

GlobalData’s July report revealed that Colombia saw the most oil and gas discoveries in 2Q. The country was said to have made seven onshore finds during the period.

According to its website, GlobalData is 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.

To contact the author, email andreas.exarheas@rigzone.com



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.