Reserve competition is heating up, Africa has become a hot spot for global oil exploration.

Africa is attracting major oil giants to invest this year, with companies planning to drill twice as many high-impact exploration wells in the region as any other area to seek future reserve resources. According to data from energy analysts at Rizhideo, Africa ranks first in the world with 12 ultra-deepwater drilling sites, with costs for such projects potentially reaching hundreds of millions of dollars. In terms of onshore frontier exploration activities, Africa also holds a dominant position. Ateeja Mahajan, director of energy exploration and oil and gas research at Rizhideo, stated in a report that we are observing a clear shift in the direction of operator capital deployment by 2026. Africa stands out because it still holds geological potential and prospects for achieving large commercial discoveries.