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Latin America exploration: 2015 in review and what to look for in 2016

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Report summary

Exploration activity in Latin America was very subdued in 2015 with exploration wells down over 60% year on year. Despite the lower well count discovered resources were up compared to the dismal results of 2014. Large discoveries were made in five countries. The largest global oil discovery Liza was a frontier find in Guyana. More oil was found in Latin America than in any other region. Exploration in 2016 will be very limited but a high risk high potential wildcat will finally be drilled in Uruguay. In addition we expect offshore drilling to continue in Colombia and the Falkland Islands/Malvinas.

What's included

This report contains

  • Document

    Latin America exploration: 2015 in review and what to look for in 2016

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Table of contents

    • Discovered resources remain low in 2015
      • Guyana's Liza stands out as the largest global oil discovery
      • Deepwater Sinu basin in Colombia opened by Kronos
      • Two discoveries made in Falklands/Malvinas
      • Smaller Brazil discoveries still noteworthy
      • Conventional Argentina discovery merits attention
      • Bolivia finds oil after a long dry spell
    • Licensing in 2015 and opportunities in 2016
    • Exploration activity to watch in 2016

Tables and charts

This report includes 7 images and tables including:

Images

  • Discovered resources by region in 2015
  • Exploration wells completed in Latin America 2006-2015
  • Discovered resources by country 2006-2015
  • Exploration acreage awarded in 2015
  • Latin America exploration: 2015 in review and what to look for in 2016: Image 5

Tables

  • Upcoming bid rounds in 2016
  • Top ten discoveries of 2015

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