About 36 Bboe gas and 11 Bbbl of oil remain locked across the world, held captive by fiscal terms, access to finance, portfolio prioritization and subsurface issues, a new study shows.

The stalled resources comprise nearly 120 discoveries made between 2008 and 2016, according to Westwood Global Energy Group, the U.K.-headquartered oil and gas market research consultancy that conducted the study.

“Westwood estimates that the industry has spent about $25 billion exploring for these assets and the same amount in appraisal following discovery [for] a total of about $50 billion,” Graeme Bagley, head of global exploration and appraisal for Westwood, told Hart Energy.

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