The continent also presented numerous opportunities for smaller independents and African companies allowing for the expansion of acreage holdings. However, after the 2014 oil price crash, a divergence in this trend is observed. It is worth remembering the collapse of Afren in 2015 was attributed at least in part to the 2014 oil price crash. The decision was taken before the 2020 oil price crash but would have been almost inevitable within the current environment. Regionally, North African exploration drilling will respond similarly in line with the recovery.

Source: The North Africa Journal July 12, 2020 17:26 UTC