Africa has emerged as the center of a global upstream acreage rush, according to Enverus Intelligence Research (EIR) in a statement on Wednesday.
The statement noted that the continent had captured nearly half of new upstream country entries globally “as operators broaden exploration portfolios.”
EIR, which is a subsidiary of Enverus, highlighted in the statement that it had released a new analysis showing Africa had “emerged as an important focal point of global upstream expansion as companies rebuild exploration portfolios to replenish reserves and pursue future growth.”
The company revealed that it had identified 187 country entries, or reentries, that were either completed or under consideration globally during the first half of 2025 and the first half of 2026, “with activity spanning a wide range of companies and geographies.”
According to EIR, Africa captured about 50 percent of these new upstream entries. That made it the leading region for current upstream expansion, the statement outlined.
EIR said in its statement interest “has been heavily concentrated in West Africa, led by deepwater activity along the Atlantic Margin.”
It added that North African markets “have drawn renewed interest through government efforts to attract international investment, including new bid rounds.”
“The acreage rush reflects a broader shift toward organic exploration.
“Dwindling reserve life, subdued exploration spending over the past decade, and a shrinking pool of suitable acquisition targets are placing greater emphasis on finding new resources,” EIR highlighted in its statement.
EIR highlighted in the statement, however that “the latest wave of entries is best understood as a screening cycle rather than a drilling cycle, as companies rebuild exploration inventories while preserving capital flexibility.”
The company noted that large operators are increasingly using early-stage access agreements, including reconnaissance permits and memoranda of understanding, to evaluate broad acreage positions while limiting upfront commitments.
“These structures allow companies to screen at scale, high-grade their portfolios, and advance only the most material opportunities,” EIR said.
Senior regional manager of Sub-Saharan Africa at EIR, Jimmy Boulter highlighted in the statement that “Africa has become the center of gravity for upstream portfolio expansion” but warned that “the real test of exploration appetite will come when large operators have to move from option-taking to capital allocation.”
“As today’s early-stage access agreements mature, the key markers will be how many convert into full exploration licenses, what drilling commitments those licenses carry, and how much acreage is ultimately recycled back into the market for other companies to pursue,” Boulter added.
In a release in January looking at “high impact wells,” Rystad Energy said Africa would “continue to drive global drilling activity” this year.
