ExxonMobil Guyana is ramping up its exploration and drilling activities offshore Guyana. A recent report suggests that the company might deploy up to eight drillships simultaneously in the latter half of 2025, underscoring the scale of its operations in the Stabroek and other blocks.
As per ExxonMobil’s Cumulative Impact Assessment Report for the Canje Block 12-well exploration campaign, the anticipated surge in marine traffic due to the company’s initiatives between Georgetown Harbour and the offshore areas will occur in the 3rd and 4th quarters of 2025. Presently, six drillships are allocated to ExxonMobil’s projects offshore Guyana. These maritime assets are projected to maintain an unwavering presence in the area through 2029. However, come 2025, during the anticipated peak periods, this count might witness a temporary bump up to eight, the report stated.
Exxon is currently utilising vessels contracted from Stena Drilling and Noble Corporation.
Development drilling will be occurring simultaneously in the second half of 2025 for three ExxonMobil projects. The already approved Yellowtail and Uaru projects are expected to achieve first oil in 2025 and 2026, while Whiptail, currently under review, could start up in 2027.
There will also be exploration drilling across three of Exxon’s licensed blocks – Stabroek, Kaieteur and Canje. Exxon recently secured government approval to drill 35 exploration and appraisal wells in the next few years up to the expected expiry of the license in 2027. Exxon also has two pending applications for approval to drill 12 wells each at the Kaieteur and Canje blocks over the next few years.
All these ventures are strategically positioned in the Stabroek Block offshore Guyana. In this promising block, ExxonMobil holds a controlling position with a 45% stake, while its partners, Hess and CNOOC, hold 30% and 25%, respectively.
Across the six exploration and development projects alone, the companies are expected to invest more than US$35 billion, on top of the billions already invested in the three first developments and scores of exploration and appraisal wells.
Exxon has already discovered more than 11 billion oil equivalent barrels in the Stabroek Block, and is expected to have the capacity to produce more than 1.2 million barrels of crude per day (bpd) by 2027.
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