US supermajor ExxonMobil has proposed a new exploration and appraisal drilling campaign in the Stabroek block offshore Guyana, according to shipping and maritime news outlet Splash247. The campaign will involve 35 exploration and appraisal wells across four prospect areas, with spud locations not yet finalised. The drilling is scheduled to begin in 2028 and run through the end of 2033, completed in nine phases.
Campaign Details
The proposed activities, as reported by Splash247, include exploration and appraisal drilling operations and may involve ancillary activities such as vertical seismic profiling (VSP), well testing, sidetracking, and the plugging and abandonment of wells upon completion of operations. The campaign is planned for the Stabroek Block, located approximately 200 km offshore Guyana.
ExxonMobil and its partners Hess and CNOOC have already discovered more than 11 billion barrels of oil equivalent resources in the Stabroek Block, according to the article. The block is one of the most significant deepwater discoveries in recent years.
Current Operations and Future Capacity
Splash247 reported that ExxonMobil is currently producing 900,000 barrels per day (bpd) in Guyana and plans to increase capacity to 1.7 million bpd by 2030. The new exploration campaign could help sustain or expand that production growth trajectory, though the wells are exploration and appraisal wells, not development wells.
Regulatory Process
The Guyana Environmental Protection Agency (EPA) announced that it has opened a 28-day public consultation period on the proposed campaign. The EPA is inviting written submissions on issues that should be addressed in a cumulative impact assessment of the project. This regulatory step is required before the campaign can proceed.
Market Implications
While the campaign is still in the proposal stage, it signals ExxonMobil's long-term commitment to the Guyana basin. For commodity traders and analysts tracking global oil supply, the potential for incremental production from Guyana remains a key factor. However, the article provides no specific price data or OPEC+ context. The timeline (2028-2033) means any additional barrels from this campaign are still several years away. Current production of 900,000 bpd from Guyana already contributes to global supply, and the planned ramp-up to 1.7 million bpd by 2030 will make Guyana a more significant non-OPEC producer. The involvement of Hess and CNOOC as partners underscores the international interest in the basin.
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