23-01-04 Oil discoveries made by the ten biggest western oil companies including ExxonMobil, BP and Shell, have slumped since 2000, citing a report by energy consultant Wood Mackenzie.
Discoveries, which reached about 13.05 bn barrels in 2000, fell to 4.02 bn in 2001 and just 3.34 bn in 2002.

Securities and Exchange Commission filings over the same period suggest that discoveries have been made at a more steady rate.
That's the result of SEC rules that allow companies to book new reserves over a number of years, as they are deemed ready for extraction by the company.