Guyana, North Sea bringing strongest exploration returns

South America and Europe delivered the highest number of oil and gas discoveries in 3Q 2019, according to analyst GlobalData.

Globaldata1023

Offshore staff

LONDON – South America and Europe delivered the highest number of oil and gas discoveries in 3Q 2019, according to analyst GlobalData.

There were eight discoveries in each region during the quarter, out of a total of 38 new oil and gas finds worldwide.

In South America, six of the discoveries were conventional oil, one conventional gas, and the other heavy oil.

Europe had five conventional oil discoveries and three conventional gas finds.

According to Adithya Rekha, oil & gas analyst, Guyana-Suriname basin led the way offshore in South America with three discoveries, while in the North Sea there were three conventional oil finds and one of conventional gas.

Asia and Africa followed with five each, comprising in total six conventional oil and four conventional gas discoveries. Behind them was the Caribbean with four conventional gas discoveries.

10/23/2019

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