Since the twenty-first century, hydrocarbon exploration in Africa has experienced both great success (from 2010 to 2015) and slumps (from 2016 to 2021), showing signs of recovery from 2022, and the key areas and modes of hydrocarbon exploration in Africa have been changing gradually. Based on commercial databases such as those provided by IHS Markit Ltd. (IHS, an energy consulting firm) and published information, this paper analyzes the distribution, types, exploration and operation modes of the major oil and gas discoveries made in Africa since the beginning of the twenty-first century. The results show that offshore oil and gas fields, especially passive margin basins, have abundant undiscovered oil and gas resources and great exploration potential. Passive margin oil and gas fields are the exploration areas to be focused on in the future and mainly contribute to the growth of oil and gas reserves in Africa. Among the major oil and gas discoveries in Africa, additional recoverable gas reserves play an absolutely dominant role. The natural gas resource in Africa is strategically important at the current global situation. International oil companies are actively forging into new exploration areas such as deep waters and deep formations. Maintaining a balance between the frontiers and traditional fields of exploration and strengthening independent exploration are the key to the development of oil companies.