Discoveries could hit 20-year low

DISCOVERIES for the first half of this year are the lowest this century as budget cuts and pandemic-related travel bans hit, standing at just 4.9 billion barrels of oil equivalent with volumes down 42% and actual discoveries down 31%.

Discoveries could hit 20-year low Discoveries could hit 20-year low Discoveries could hit 20-year low Discoveries could hit 20-year low Discoveries could hit 20-year low

 

Research from Rystad Energy found travel bans had little effect on projects in the testing and completion phase but have caused delays for projects in the initial and ongoing drilling phase

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