Westwood Insight – 2021 High Impact Exploration – lowest discovered resource outside Russia for more than a decade
Thursday 20 January 2022
Frontier tests decline with less focus on long term renewal
High impact drilling activity in 2021 was at a similar level to 2016-2018, with 74 wells completing (Figure 2). Discovered resource was disappointing, down from 19bnboe in 2020 to 6.6bnboe in 2021, split 36% oil and 64% gas. The commercial success rate declined from an unusually high 41% in 2020 to 31% in 2021, but still higher than the 23% average in 2016-2018.