Global oil and gas discoveries amounted to five billion barrels of oil equivalent in 2023. This was notably lower than the discovery volume reported in the period between 2015 and 2020, but slightly more than the amount reported for the 11-month period between January and November 2021.
Volume of crude oil and natural gas discoveries worldwide from 2015 to 2023
(in billion barrels of oil equivalent)
Characteristic
Discoveries in billion barrels of oil equivalent (boe)
2023
5
2021*
4.7
2020
12.5
2019
15.8
2018
9.9
2017
12.1
2016
7.9
2015
20.3
Created with Highcharts 7.2.2Discoveries in billion barrels of oil equivalent (boe)20.320.37.97.912.112.19.99.915.815.812.512.54.74.7552015201620172018201920202021*2023
0510152025
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Rystad Energy. (January 29, 2024). Volume of crude oil and natural gas discoveries worldwide from 2015 to 2023 (in billion barrels of oil equivalent) [Graph]. In Statista. Retrieved January 26, 2025, from https://www.statista.com/statistics/1291416/oil-and-gas-discovery-volume-worldwide/
Rystad Energy. "Volume of crude oil and natural gas discoveries worldwide from 2015 to 2023 (in billion barrels of oil equivalent)." Chart. January 29, 2024. Statista. Accessed January 26, 2025. https://www.statista.com/statistics/1291416/oil-and-gas-discovery-volume-worldwide/
Rystad Energy. (2024). Volume of crude oil and natural gas discoveries worldwide from 2015 to 2023 (in billion barrels of oil equivalent). Statista. Statista Inc.. Accessed: January 26, 2025. https://www.statista.com/statistics/1291416/oil-and-gas-discovery-volume-worldwide/
Rystad Energy. "Volume of Crude Oil and Natural Gas Discoveries Worldwide from 2015 to 2023 (in Billion Barrels of Oil Equivalent)." Statista, Statista Inc., 29 Jan 2024, https://www.statista.com/statistics/1291416/oil-and-gas-discovery-volume-worldwide/
Rystad Energy, Volume of crude oil and natural gas discoveries worldwide from 2015 to 2023 (in billion barrels of oil equivalent) Statista, https://www.statista.com/statistics/1291416/oil-and-gas-discovery-volume-worldwide/ (last visited January 26, 2025)
Volume of crude oil and natural gas discoveries worldwide from 2015 to 2023 (in billion barrels of oil equivalent) [Graph], Rystad Energy, January 29, 2024. [Online]. Available: https://www.statista.com/statistics/1291416/oil-and-gas-discovery-volume-worldwide/
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