Discoveries in frontier provinces like the Arctic are especially vulnerable to becoming stranded
Giant oil and gas discoveries may prove irrelevant
The energy transition is increasing the risk of huge discoveries becoming stranded indefinitely
The size of large new oil and gas discoveries may not be enough to guarantee development and production. The window of opportunity for such discoveries may be over, not because their underlying resource base is insufficient, but because they may not be able to be produced before the twilight of the oil age renders them uneconomic. Under normal circumstances, when discoveries involving billion barrel of oil equivalent recoverable volumes are announced, the oil and gas industry sits up and takes notice. These could indicate the birth of a new world-class oil play. However, giant discoveries, such as the Pobeda field in the Russian Arctic and the recent Kara Sea discovery by Russian oil firm Ro
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
