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 gas discoveries, with no unconventional discoveries in the quarter.

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

Regionally Asia leads with seven discoveries, followed by Europe and South America with four discoveries 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 oil discovery 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 and gas analyst, 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 discoveries in Colombia, Acorazado-1, Danes-1, and Indico-1, are in the Llanos Orientales basin,” Tejomoortula added.

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