International Finance
Oil & Gas

Russia, Colombia lead global oil and gas discoveries in Q4 2018

Russia had two natural gas discoveries in the West Siberian basin and an oildiscovery in the Okhotsk basin, while Colombia had three conventional oil discoveries, all in the Llanos Orientales basin, says GlobalData

Russia and Colombia had the highest number of oil and gas discoveries amongst a number of key countries with three each in Q4 2018, according to leading data and analytics company GlobalData.

GlobalData’s latest report: ‘Q4 2018 Global Oil and Gas Discoveries Review – Russia and Colombia Lead with Highest Number of Discoveries reveals that globally 23 oil and gas discoveries were made in Q4 2018 comprising, 13 conventional oil and 10 conventional gasdiscoveries, with no unconventional discoveries in the quarter.

Regionally Asia leads with seven discoveries, followed by Europe and South America with fourdiscoveries each. The Former Soviet Union (FSU) had three discoveries, with North America and Africa having two discoveries each in the quarter. Oceania had only one conventional oildiscovery during the same period.

In terms of terrain, onshore accounted for the most with 13 discoveries, followed by shallow water followed with five discoveries. Ultra-deepwater and deepwater accounted for three and two discoveries, respectively.

Two of the oil and gas discoveries in Russia were made in the shallow water terrain and one discovery in onshore terrain, while all three discoveries in Colombia were made in the onshore terrain.

Soorya Tejomoortula, Oil & Gas Analyst, at GlobalData, said: “Russia’s two natural gas discoveries, Obskoye North (Severo-Obskoye) and PO-1, were made in the West Siberian basin and an oil discovery, Triton, was made in the Okhotsk basin. All three conventional oil discoveriesin Colombia, Acorazado-1, Danes-1, and Indico-1, are in the Llanos Orientales basin.”

The following operators: Eni SpA, Equinor Energy AS, OAO Novatek, and Oil India Limited led with two discoveries each in Q4 2018.

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