Africa will drive global activity. (Image source: Rystad Energy)

Research firm, Rystad Energy, has predicted strong momentum to remain steady in Africa's exploration scene as operators are showing healthy risk appetites with wildcat drilling activities lined-up in the region 

High-impact wildcat wells were already trending in 2024 and 2025, reporting sharp success rates at 23% and 38% respectively. In a year-on-year basis, high-impact drilling has added around 2.3 billion barrels of oil equivalent, recording a 53% boost in volumes. 

This will continue to be prevalent well into 2026 with Africa's Orange Basin and Gulf of Guinea driving global activity at around 40% of planned high-impact exploration wells. Almost all onshore high-impact drilling this year is expected to come from Africa, as Rystad notes a clear concentration in ultra-deepwater and frontier exploration. 

“What we are seeing in 2026 is a clear shift in where operators are willing to deploy capital. Ultra-deepwater and frontier plays remain capital-intensive, but they also offer scale and material upside at a time when conventional opportunities are increasingly limited. Africa stands out because it still combines geological potential with the prospect of large, commercially meaningful discoveries, particularly for operators looking to secure long-life resources in a tightening global supply environment,” said Aatisha Mahajan, head of exploration, oil & gas research, Rystad Energy. 

Factors that determine how high-impact a well is include resources size, potential hydrocarbon plays in frontier or emerging basins, and their significance to the operator. 

Awodi-07 drilling had commenced late last year.

As operator of a joint venture with the Nigerian National Petroleum Company Limited, Chevron Nigeria Limited has completed appraisal and exploration activities in the Awodi-07 well positioned in the shallow offshore western Niger Delta

Amid a 40%-60% dynamic with NNPC retaining the larger share and Chevron enjoying Operator status, both the partners are well positioned to expand their asset portfolios by leveraging resources, expertise and investment in developing Nigeria’s oil and gas resources. Through this collaboration, the partners aim to increase oil production to about 146,000 barrels per day.

With promising results reinforcing the prospectivity of the Awodi-07 well, this comes as a win for the partners as it significantly adds to their collective objective of boosting Nigeria's production rates to 146,000 barrels per day. Several reservoir zones in the well were underlined with considerable hydrocarbon presence. This was confirmed following months of consistent exploration efforts led by sound technical evaluation. 

Drilling had commenced late last year in compliance with approved operational and regulatory standards, followed by comprehensive testing, logging, and data acquisition, before the well was safely secured. 

Calling it a milestone led by sustained collaboration and stable working environment, Udy Ntia, executive vice president - upstream, NNPC, said, “This discovery underscores the importance of disciplined exploration programmes, strong partnerships, and the positive impact of the reforms introduced under the Petroleum Industry Act. We look forward to working closely with Chevron Nigeria Limited to mature this opportunity and progress it towards timely development and monetisation.”

On the same tune, NNPC's group chief executive officer, Bashir Bayo Ojulari, said, “The success of the Awodi-07 well further reinforces the strength of the NNPC Ltd/CNL Joint Venture and our shared commitment to responsibly growing Nigeria’s hydrocarbon reserves. This achievement aligns squarely with our strategic priorities of increasing production, enhancing national energy security, and delivering sustainable value for the Nigerian people.”

TotalEnergies plans to kickstart additional phased investments. (Image source: TotalEnergies)

The Waha Concessions onshore Libya will see increased production as TotalEnergies secured a 34-year extension agreement during the recently-concluded Libya Energy & Economy Summit in Tripoli

Signed by the major's chairman and chief executive officer, Patrick Pouyanné, in the presence of Abdul Hamid Dbeiba, Prime Minister of the Government of National Unity, the agreement permits the company to operate in the region for as long as 31 December 2050. This move further solidifies TotalEnergies' presence in Libya that goes back as far as 1956. 

“As we celebrate 70 years of presence in Libya, we are pleased to sign this agreement, and I would like to thank the Libyan authorities for their continued support, in particular Dr. Khalifa Rajab Abdulsadek, Minister of Oil and Gas of Libya and Masoud Suleman, Chairman of the National Oil Corporation (NOC)," said Pouyanné. 

As the concessions continue to produce around 370,000 barrels of oil equivalent per day (boe/d), TotalEnergies plans to kickstart additional phased investments that will advance the development of the North Gialo field. This will unlock 100,000 boe/d of boosted production.

As the announcement marked the major's elaborate plans for long-term production strategy from the region, Pouyanné said, "Extending the Waha concession, with its low cost and low emission giant resources offering many opportunities to grow production, fits perfectly with our strategy.” 

The Baleine field is Eni's first development in the country. (Image source: Adobe Stock)

Eni has agreed to sell a 10% stake in the Baleine Project, Cote d’Ivoire, to SOCAR, the State Oil Company of the Republic of Azerbaijan

The Baleine offshore development is operated by Eni (47.25%), with Vitol and Petroci having stakes of 30% and 22.75% respectively.

The transaction aligns with Eni's strategy of optimising its upstream portfolio by accelerating the monetisation of exploration discoveries through the divestment of equity stakes, a model known as the "dual exploration model."

The agreement also reflects the broader collaboration between Eni and SOCAR. In 2024, the companies signed three Memoranda of Understanding (MoUs) focused on energy security - aiming to expand cooperation on hydrocarbon exploration and production - as well as greenhouse gas emissions reduction and the biofuel production chain.

Eni has been present in Cote d’Ivoire since 2015. The giant Baleine deepwater field, discovered by Eni in 2021, is Eni’s first development in the country, and the first net-zero emission development in Africa, according to the company. The largest discovery in the country’s history, it achieved production in record time, in 2023. Currently, Baleine produces over 62,000 barrels of oil and more than 75 million cubic feet of gas per day from Phases 1 and 2. With the launch of Phase 3, production is expected to rise to 150,000 barrels of oil and 200 million cubic feet of gas per day, positioning Baleine, the country’s main offshore development, as a cornerstone in meeting the country's domestic energy needs.