ExxonMobil Guyana Resumes Offshore Drilling Operations in Stabroek Block

Four mobile offshore drilling units (MODUs), made up of drillships owned by Noble Corporation and Stena Drilling, have buckled down and resumed hydrocarbon exploration at the Stabroek block off the coast of Guyana, enabling ExxonMobil Guyana to continue its search for oil and natural gas resources.

ExxonMobil Guyana, along with its partners Hess and CNOOC, has committed nearly $55 billion to develop six sanctioned offshore projects on Guyana’s Stabroek block. With a production capacity expected to exceed 1.3 million barrels of oil per day once all projects are operational, the company is also looking to develop the Hammerhead project to further increase production capacity to nearly 1.5 million bpd by 2029.

The company recently restarted developmental drilling operations with the Noble Bob Douglas drillship at the YT_3P05 well site within the Stabroek block. This is part of a series of drilling activities set to conclude in February 2025, supported by various vessels and services for efficient operations.

Other drillships, such as the Stena Drillmax and Noble Don Taylor, are also scheduled to carry out drilling operations at different well sites off the coast of Guyana, contributing to ExxonMobil’s exploration efforts in the region.

These drilling activities are part of ExxonMobil’s ongoing commitment to exploring and developing oil and gas resources in Guyana, with plans for further expansion in the coming years.

Upcoming Projects and Investments

In addition to the current drilling operations, ExxonMobil is also planning fiber optic cable installation operations within the Stabroek block, further enhancing its capabilities in the region. The company has secured additional rig years of backlog in Guyana, extending its contract duration to August 2028.

Furthermore, Guyana’s Office of the Prime Minister has approved a $51.2 billion investment for the country’s flagship gas-to-energy project, signaling a significant step towards harnessing the nation’s energy resources.

Overall, ExxonMobil’s continued efforts in offshore drilling and exploration in Guyana highlight the company’s commitment to developing the region’s oil and gas sector while contributing to the country’s economic growth and energy security.