Seven new discoveries were announced in November 2021, unearthing around 219 million boe of new volumes. The monthly average of discovered volumes this year now stands at 424 million boe. Therefore, the cumulative discovered volume for 2021 is on course to be its lowest in decades,” said Palzor Shenga, vice-president of upstream research at Rystad Energy. The largest discovery in November 2021 was Russian group Lukoil’s Yoti West off the coast of Mexico, which is estimated to hold around 75 million boe of recoverable resources. The discovery strengthens Lukoil’s cumulative discovered volumes in the North American nation.

Source: The North Africa Journal December 21, 2021 11:31 UTC