Global exploration: 4 things to look for in 2024

Exploration remains paramount for companies looking to refresh and optimise their portfolios. Prioritisation of advantaged resources is now well established, helping companies improve the sustainability (low carbon) and resilience (low cost) of their barrels.

Drawing on insight from Lens Subsurface, this report highlights four key themes that will shape the exploration sector in 2024:

• High-impact wildcatting focuses on oil – where are the key exploration wells?
• More deepwater exploration by private (not-listed) companies – what contribution does this sector make and where?
• Formal licence rounds will not fully satisfy appetite for acreage – where are the most competitive rounds and farm-in opportunities?
• Results from geothermal test projects – which geothermal technology pilot projects will prove up viability?

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