Latin America exploration: 2015 in review and what to look for in 2016
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
Table of contents
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Executive summary
- Discovered resources remain low in 2015
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2015 discoveries include several play openers
- 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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