Finding a decline in global high impact well count to just 64 wells in 2023, Westwood Global Energy Group has observed that it is the lowest number the research body has ever recordedIt was a sharp drop from 82 wells in 2022. It says that the conventional link between oil prices and drilling might have been finally disrupted. Africa, however, is the sole region that witnessed a continued rise in high impact drilling in 2023, with the completion of 13 high impact wells. Much of this high activity can be attributed to Namibia following the frontier successes in 2022, besides drilling in seven other countries in the continent. Westwood predicts that Africa should see drilling of around 20 high impact wells, with Orange Basin leading.
