Global discoveries of conventional oil and natural gas are seeing an exciting recovery with discovered resources already surpassing 4.5 billion boe in H1 2018, Rystad Energy analysis shows. The average monthly discovered volumes YTD are estimated at 826 million boe, up approximately 30% compared to 625 million boe in 2017. (Click to enlarge) During H1 2018, Guyana led the top five countries in terms of total discovered resources added followed by the United States, Cyprus, Oman and Norway. These five countries hold three-fourths of the total resources discovered this year. The discoveries in Guyana, the United States and Cyprus are located in ultra-deepwater and are 100% owned by oil majors, indicating indicates that oil majors have started to re-focus on deepwater exploration. The biggest offshore discovery to date this year is believed to be the Eni-operated Calypso gas find offshore Cyprus, while the largest onshore discovery, a gas-condensate find, […]