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EGPC Leads Oil, Gas Discoveries in Q3 2019

November 5, 2019

Egyptian General Petroleum Corporation (EGPC) led globally among companies in the third quarter (Q3) 2019 in terms of the highest number of oil and gas discoveries, said GlobalData.

Of the total 38 discoveries made worldwide, EGPC had four, all being onshore discoveries. Of these, three were conventional oil discoveries while the remaining was a conventional gas discovery, said a report from GlobalData.

Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, explained: “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.”

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 (TUWLF) 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; and Tullow Oil had two oil discoveries in the deepwater terrain,” Tejomoortula added.

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