These majors have communicated the importance, to varying degrees, of frontier exploration in their quest to replenish reserves bases and maintain profitability. The French major is expected to hold exploration spending at 2024 levels this year, but despite the dip, its recent acquisitions suggest it has not lost a taste for frontier exploration. BP's recent Bumerangue discovery in Brazil marks a return to deepwater exploration, and the company is also planning to drill its first ultra-deepwater well off Libya. Eni's "dual exploration" strategy focuses on value-driven exploration with fast monetization, blending high-risk, high-upside frontier exploration with efficient, near-field projects. Overall, the six majors are pushing the boundaries of exploration, targeting frontier areas in search of new discoveries to sustain their businesses.