Oil majors are eyeing Africa's frontier prospects, finds Rystad
The latest exploration news and analysis from across Africa's oil industry
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The latest exploration news and analysis from across Africa's oil industry
The upstream majors are forecast to spend less on upstream exploration from 2020-2024 than in the previous four-year period, but are pushing into deeper waters
Despite tightened budgets, frontier drilling is fueling optimism for a productive year and deepwater projects are popular, in particular among the oil majors.
The U.S. and its European allies have moved fast to secure gas supplies in the Middle East in order to replace Russian piped gas, and Egypt is crucial in this new strategy
The ambitious initiative is in line with the company's commitment to expand its natural gas operations and investments in the region.