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New discoveries up 30% this year

ANALYSIS from Rystad Energy has found that discovered conventional resources are heading towards a 30% rise for 2018, and Guyana was the top nation for total discovered resources for the first half of the year, although the single largest discovery was within Cyprus’ waters.

Guyana's Stabroek blocks leads way as appetite for ultra-deep water returns but discoveries not hitting reserve replacement ratio

Guyana's Stabroek blocks leads way as appetite for ultra-deep water returns but discoveries not hitting reserve replacement ratio

However, Rystad also says that exploration and production players are facing a low reserve replacement ratio that averages less than 10%.    "This is worrisome considering the impact on global oil...

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