The Stena Drillmax, under contract with ExxonMobil, is returning to Guyana after completing exploration drilling at the Persephone wildcat well in the Orphan Basin, located off the northeast coast of Newfoundland and Labrador, Canada. ExxonMobil said the Persephone well, in Exploration License 1169, reached its planned depth but showed no signs of commercially viable hydrocarbons, Upstream said.
The drillship, which left Guyana in the second quarter of 2024, is expected to arrive by the end of September, an Exxon spokesperson said. Upon its return, the Stena Drillmax will resume exploration and appraisal activities in the Stabroek Block offshore Guyana, where ExxonMobil has discovered 11.6 billion barrels of oil equivalent since its first commercial find in 2015. The Stabroek Block is operated by ExxonMobil with a 45% stake, alongside co-venturers Hess (30%) and CNOOC (25%).
ExxonMobil has until October 2027 to complete its exploration and appraisal program in the Stabroek Block before relinquishing the entire block to the state. However, a portion of the block is set to be relinquished on October 7, 2024. Following this, ExxonMobil will embark on the final phase of its exploration efforts.
The Stena Drillmax will join its sister ship, the Stena Carron, and four Noble drillships in Guyana. These vessels are all part of ExxonMobil’s broader exploration and appraisal campaign, as well as development drilling. The company aims to double its current crude oil production in Guyana from approximately 650,000 barrels per day (b/d) to 1.3 million b/d by 2027.
ExxonMobil has announced only one commercial discovery in the Stabroek Block so far in 2024, made at the Bluefin-1 well.
