Helping America Navigate a New Energy Reality

Senior Analyst at Rystad Energy on Global Oil Discoveries

By on 26 Dec 2017 in quotes with 0 Comments

“We haven’t seen anything like this since the 1940s. The discovered volumes [of oil worldwide] averaged at ~550 million barrels of oil equivalent per month. The most worrisome is the fact that the reserve replacement ratio in the current year reached only 11% (for oil and gas combined) – compared to over 50% in 2012 and 100% in 2006. [Additionally] Low resources per discovered field can influence its commerciality. Under our current base case price scenario, we estimate that over 1 billion boe discovered during 2017 might never be developed.”

Sonia Mladá Passos, Senior Analyst at Rystad Energy

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