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GlobalData: EGPC saw highest number of oil & gas discoveries in Q3 2019

Posted: November 9, 2019 at 1:04 pm   /   by   /   comments (0)

The Egyptian General Petroleum Corporation (EGPC) led globally among companies in Q3 2019 with the highest number of oil and gas discoveries, according to data and analysis company GlobalData.

The company’s latest report, ‘Q3 2019 Global Oil and Gas Discoveries Review – South America and Europe Dominate with Highest Number of Discoveries in Quarter’, reveals that of the 38 discoveries made worldwide, EGPC had four, all being onshore discoveries. Of these, three were conventional oil discoveries, while the rest were conventional gas discovery.

Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, explains: “Of the three conventional oil discoveries made by EGPC in Q3 2019, two are in the Western Desert Basin and the remaining is in the Gulf of Suez Basin. This lone conventional gas discovery was made in the Nile Delta Basin.”

Tejomoortula continued, “Aker BP, the Abu Dhabi National Oil Company and BHP had the second largest number of oil and gas discoveries in Q3 with three each in Q3 2019. Aker BP had two conventional oil discoveries and one conventional gas discovery in the quarter, and all the sites were in shallow water terrain.

“The Abu Dhabi National Oil Company had three conventional oil discoveries in the onshore terrain, while BHP had three conventional gas discoveries in the ultra-deepwater terrain.

“Equinor, Oil & Gas Development Company, and Tullow Oil stood third with two discoveries each in the quarter. Equinor had one oil and one gas discovery in the deepwater terrain; Oil & Gas Development Company had two gas discoveries in the onshore terrain; Tullow Oil had two oil discoveries in the deepwater terrain.”

(Source: Oil Review Africa)

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