Subsurface: 5 things to look for in 2025 Report

Insight 06 December 2024

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

Conventional explorers will focus on Africa’s Atlantic margin, seeking to prove-up frontier, deepwater oil plays. Globally, explorers will sink more high-impact wells in 2025 against a backdrop of government engagements aimed at delivering energy security. Gas appraisals will also be at the forefront, as advantaged basins are further exploited, and potential super basins identified. Governments looking to open new basins will sweeten licensing terms. The global expansion of data centre capacity presents an important market opportunity for geothermal. Despite anticipated headwinds facing renewables in the US, geothermal will continue to grow under the upcoming Trump administration.

Executive summary
- 1. Uptick in deepwater wildcats
- 2. Extensive exploration acreage additions
- 3. Gas will continue to dominate appraisals and new production, with advantaged basins in focus
- 4. An increase in geothermal-powered data centres and further technology breakthroughs
- 5. US geothermal projects and permitting will maintain momentum under Trump

Tables and charts

This report includes the following images and tables:

Regional hydrocarbon split of discovered volumes in new fields coming onstream in 2025
Global map of Big Tech data centres and next-generation geothermal projects