Tectonic Setting of 31 Giant Oil and Gas Fields Discovered from 2000-2005: Implications for Future Discovery Trends

Paul Mann¹, Myron Horn², and Ian Cross^3
1 Jackson School of Geosciences, The University of Texas at Austin, Austin, TX
² M. K. Horn & Associates, Tulsa, OK
³ IHS Energy, Houston, TX

921 giant oil and gas fields account for about 55% of the world's petroleum reserves. In the period of 2000-2005, 7 new oil giants and 24 new gas giants were added to the existing 890 oil and gas giants discovered in the interval from 1868 to 2000. The number, size and ratio of oil to gas giants discovered in the 2000-2005 interval coincides with the longterm, post-1965 decline curve for new giants. The classification of the tectonic setting of the 31 2000-2005 giants is also consistent with our previous study of giants discovered during the period 1868-2000: the majority of 2000-2005 discoveries are found along continental passive margins fronting major ocean basins (5 in Australia, 3 in Nigeria, 3 in Brazil, 2 in Gulf of Mexico, and 1 in Saudi Arabia). Far fewer giants were found in rift and inverted rift settings (3 in Kazakhstan, 1 each in India, North Sea, China, and Oman) and on continental and arc collisional margins (5 in Zagros belt of Iran, 1 each in Trinidad, Bolivia). Three giants were discovered in strike-slip provinces (Myanmar, China). We predict that: 1) about 30 giant oil and gas fields will be discovered in the period of 2005-2010; 2) more than two thirds of those discoveries will be gas; 3) all of the new giants will be found in the 27 cluster regions where the previous 921 giants are located; and 4) the majority of the new giant discoveries will occur in a passive margin setting.