Deep Water Covers 180B Bbls Undiscovered Oil, Gas – Study

LONDON (Dow Jones)–Deep water covers 180 billion barrels of the world’s undiscovered oil and natural gas reserves, more than twice the amount yet found, Scottish energy consultants Wood Mackenzie said Wednesday.

Around two-thirds of oil and gas discoveries come from deep water now, as exploration successes on shore and in shallow waters become rarer, Wood Mackenzie said in a statement, citing a study it and fellow energy consultants Fugro Robertson conducted.

Yahoo