The skewed activity is highlighted by explorers demarcating assets within their portfolios as ‘core’ areas of operations, with the majority of guided exploration spending being directed towards exploring these areas. These basins have not only seen an increase in activity but have also in recent years contributed significantly towards global conventional discovered volumes, which have been declining. However, a concentration of exploration within so-called core areas may prove a disadvantage for some host nations that could see their subsurface potential remain unexplored. However, the North African nation has since failed to unearth any discovery akin to the size of Zohr. Namibia on the riseDiscoveries in both Namibia and Guyana have seen industry players flocking to these countries to secure exploration blocks.

Source: The North Africa Journal July 16, 2024 14:04 UTC