The exploration industry in 2015 is on track to match the volumes it discovered over the same period in 2014 – 14 billion boe – despite this year's sharp investment cuts and cancelled drilling plans. By the end of September, explorers had found close to 10 billion boe in conventional new fields. That is just 3% less than our equivalent estimate made at the same time last year. Full year 2015 volumes will again be boosted by Q4 discoveries, further disclosure of wells already completed, and by positive appraisal progress on recent finds.
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Insight | Oct 2015
Exploration volumes in 2015 on track, despite spending cuts
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