Westwood Global Energy Group’ s recent report projects the execution of some 65 high-impact strategic wells by 2026, a figure that maintains the inertia of the previous period, but underscores an undeniable reality: operators have adopted strict capital discipline.
The high impact of strategic wells in 2026
Africa and South America are emerging as the epicenters of global exploration activity. In the African continent, the focus remains on the Orange Basin in Namibia, where Chevron will reactivate the Walvis Basin after almost a decade of silence.
On the other hand, the Tano-Ivorian Basin will receive investments from Murphy, while Eni and Shell will explore critical areas in Libya and Egypt. Such actions demonstrate that the interest in frontier basins remains strong for those seeking long-lived assets.
Suriname is also emerging with a renewed protagonism, surpassing its neighboring Guyana in immediate exploration activity. From Petronas, which will lead this offensive with at least two strategic drillings, while in Brazil, Petrobras will keep its eyes fixed on the Equatorial Margin and the Potiguar Basin. Likewise, the Santos Basin remains a vital reference point, especially with BP’s Tupinamba project, located in the vicinity of the massive Boomerangue discovery.
Regarding the Asia-Pacific region, the long-awaited Mailu-1 well in Papua New Guinea will finally see the light of day after multiple delays. This project, along with Petronas’ forays into Malaysia and Indonesia, represents a needed return to deepwater frontier drilling after years of regional inactivity. Europe is not far behind, focusing its attention on the western Black Sea, where OMV Petrom will seek to validate the gas potential in the Krum and Anaconda prospects, vital to the continent’s energy security.
Finally, North America has a more moderate, but no less relevant, pace. BP will return to the Paleogene formations in the Gulf of Mexico with the Conifer-1 project, a move that complements Shell and TotalEnergies’ efforts in the area. Although the slowdown is palpable, the quality of the selected prospects suggests that the industry prefers technical precision over massive volumes of operations.
Source and photo: Westwood Global Energy Group