Report: Pakistan leads in new global oil and gas discoveries during second quarter of 2016

A total of 38 new oil and gas discoveries were made globally during the second quarter of 2016, according to a report by GlobalData.

Titled “Q2 2016 Global Oil and Gas Discoveries Review – Discovery Success Continues in Pakistan”, the report reveals that Pakistan had the highest number of new discoveries at eight.

Of the 38 discoveries, 19 were conventional oil, 16 were conventional gas, two were unconventional gas and one was unconventional oil. Type-wise, 21 discoveries were made on-shore, 12 were shallow water, four were deepwater and one was an ultra-deep water discovery.

After Pakistan, the next highest numbers of discoveries were recorded in the US and Norway, with four each. Continent-wise, Asia was leading in the quarter with 15 discoveries, followed by Africa and Europe with seven each.

The number of discoveries during the first and second quarters combined was 80, of which Pakistan and Australia had the highest number with 12 and 10 respectively. Asia and Africa were the leading continents in terms of new discoveries made during the two quarters, with 31 and 15 respectively, followed by Oceania and Europe, with 11 and nine respectively.

Out of the 12 discoveries made in Pakistan, 11 are located in the Indus Basin, with the remaining site located in the Potwar Basin. The ten discoveries in Australia are located in the Carnarvon Basin, the Cooper Basin, the Cooper / Eromanga Basin and the Canning Basin.

The operators with the highest number of discoveries included SapuraKencana Petroleum Berhad, Santos, Oil & Gas Development Company, Statoil, Oil and Natural Gas Corporation, Pakistan Petroleum, and MOL Group.