The Mopane discovery offshore Namibia, operated by Galp Energia in partnership with Custos Investments and Namcor, has been named Discovery of the Year in Wood Mackenzie’s 2025 Annual Exploration Survey.
Located in deepwater Namibia, the Mopane find is estimated to hold in-place resources of 10 billion barrels of oil equivalent, making it one of the most significant new discoveries globally.
ExxonMobil was also recognised in the industry-leading survey, taking the title of Most-admired Explorer for 2025. The energy major has found more than 8 billion barrels of new field resources on a net equity basis since 2015, more than any other company in that period.
“ExxonMobil’s win as the most-admired explorer for 2025 is well-deserved,” said Andrew Latham, Vice President of Energy Research at Wood Mackenzie.
“Based on its decade-long exploration and development success in Guyana in particular, ExxonMobil has created almost US$30 billion in value and already surpassed 700,000 barrels per day of new oil production. The company has set a new benchmark in opening up a deepwater frontier at pace. Congratulations to John Ardill and the entire exploration team.”
The results were announced during Wood Mackenzie’s annual Exploration Summit held in Bordeaux, France.
The awards highlight achievements in exploration based on peer recognition and reflect shifting dynamics in the global oil and gas sector.
Other companies recognised included Murphy Oil, named E&P Explorer of the Year for its Hai Su Vang (2024) and Lac Da Hong (2025) oil finds offshore Vietnam, and Chinese national oil company CNOOC, awarded NOC Explorer of the Year for discovering over 7 billion barrels of oil equivalent over the past decade, both in China and as a partner in Guyana.
The survey, regarded as a key benchmark in the industry, assesses trends, drilling performance, and commercial viability of exploration activities worldwide.
“Global exploration drilling continues to target advantaged resources to help meet demand for cheaper and cleaner oil and gas supply,” said Latham. “Drilling around existing infrastructure has a role to play, but these prospects are not sufficient. The most successful explorers must embrace greater risks to open up new plays and basins that promise greater resources.”
The 2025 survey underscores a growing emphasis on exploration’s role in the energy transition, particularly in unlocking high-quality, lower-emission resources that can displace older, less sustainable supply.
“As the sector evolves to become more resilient and sustainable, these award-winning companies continue to discover advantaged resources,” Latham added. “These discoveries can displace less sustainable and more costly oil and gas supply, accelerating the journey to energy transition.”
