Exploration/discoveries
The operator has estimated about 500 million bbl of oil in place at Algaita in Block 15/06.
Rystad Energy expects the continent to account for the largest share of frontier and basin-opening wells in 2026 as operators pursue scale and untapped resources.
Updates about global exploration and production activities and developments.
-
The number of high-impact wells drilled across the globe this year are expected to be on trend with the most recent 5-year average. -
BP called the Bumerangue discovery in the Santos Basin the company’s largest find in 25 years, and announced it had begun production from its tieback project at Argos ahead of schedule.
-
Updates about global exploration and production activities and developments.
-
The company said it is considering connecting the Vidsyn commercial discovery to the nearby Fenja subsea facility.
-
Welligence projects explorers are targeting 50 billion BOE in the near term, with about 20% of that being gas.
-
As Africa’s top oil producer, Libya is ramping up momentum—offering 22 exploration areas and welcoming BP back to Tripoli with a major deal.
-
Updates about global exploration and production activities and developments.
-
Sale 262 will be the first new auction covering leases in US Gulf federal waters in 2 years.
-
Oil and gas companies drilled 75 “high-impact” wells in 2024, representing 5.2 billion BOE.
-
The $2.9 billion Shah Deniz Compression project, expected online in 2029, will enable additional production of around 50 Bcm of gas and 25 million bbl of condensate.
