Exxon kicks off 2024 Stabroek campaign with resumed drilling at Bluefin well

ExxonMobil Guyana has recommenced exploration drilling operations at the Bluefin-1 well site within the Stabroek Block. This continuation of exploration activities was announced in a notice to mariners issued by Guyana’s Maritime Administration Department (MARAD).

The Stena Drillmax has been designated for these operations, which are scheduled to start on January 12, 2024, and conclude on March 30, 2024. This initiative is a continuation of the initial drilling at Bluefin-1, which began in September 2023, as per a previous notice from MARAD.

Situated close to the border with Suriname, the Bluefin-1 exploration well is located in the southeastern section of the Stabroek Block, approximately six miles southwest of the Haimara-1 discovery.

Mike Wirth, Chief Executive Officer of Chevron, has indicated that 10 to 12 exploration and appraisal wells are planned by ExxonMobil this year. Chevron has an interest in the block, through its acquisition of Hess Corporation. ExxonMobil, as the operator of the Stabroek block, holds a 45% stake, while its partners Hess and China’s CNOOC own 30% and 25%, respectively. 

To date, ExxonMobil has found over 11 billion oil-equivalent barrels at the Stabroek Block. The company has already initiated production from three offshore projects, currently yielding approximately 550,000 barrels per day. There are expectations that Exxon could double its resource estimate of proven barrels by the end of its license period.