Asset Report
Global exploration trends 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Global exploration trends report analyses high-level global trends in conventional exploration over 2014-2023. Exploration continues to play a significant role in the energy transition as the global oil and gas landscape moves towards a lower-emission future. It has continued to deliver robust oil and gas volumes per exploration well in new field discoveries - achieving structural cost reductions and ruthlessly re-focused portfolios. Just under 200 billion boe of new resource was found over the decade. Exploration has made its long-overdue recovery to making double-digit returns and creating value. Our latest view of exploration results confirms all the hard work to cut costs and commercialise discoveries is bearing fruit.
Table of contents
- Discovery count and success rate
- Exploration spend trends
- Exploration full cycle economics
- Oil and gas prices
- Fundamental principles
- Exploration spend
- Well and play maturity definition
Tables and charts
This report includes the following images and tables:
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Annual discoveries by commercialitySuccess rates by maturityVolumes discovered by hydrocarbon type
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Volumes discovered by commercialityDiscovered resources by region (2014-2023)Average discovery sizeAverage volume discovered per exploration wellNumber of giant and large discoveriesVolumes in giant and non-giant discoveriesTen largest oil discoveries of the decade (2014-2023)Ten largest gas discoveries of the decade (2014-2023)Net share of discovered resource by peer group
- 10 more item(s)...
What's included
This report contains:
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