Stena Drilling lines up new deals and extensions for rig quartet

Stena Drilling has announced significant new contracts for its drilling rigs in its latest fleet status report. The company’s drillship, Stena IceMAX, is set to embark on a four-well campaign in Egypt starting February 2026. Meanwhile, the semi-submersible rig Stena Don has also secured a similar contract in the UK, with work commencing in the same month. Both campaigns come with options for extensions, indicating a promising outlook for the company.

Details of New Contracts

The Stena IceMAX, launched in 2012, will undertake a four-well campaign for an undisclosed operator in Egypt. This project is expected to last approximately 190 days, beginning in February 2026. The contract includes options for extensions, allowing the operator to extend the work beyond the initial scope, which could enhance the rig’s utilization in the region.

ExxonMobil Acquires FPSO Liza Destiny

In the UK, the 2001-built Stena Don has secured a four-well firm program, also starting in February 2026. This campaign is projected to last around ten months, with the potential for four additional six-month extensions. If all options are exercised, Stena Don could remain engaged until the end of 2028, providing a substantial commitment from the operator.

Ongoing Projects with ExxonMobil

Additionally, Stena Drilling’s Stena DrillMAX and Stena Carron are currently engaged in operations for ExxonMobil’s subsidiary, Esso Exploration and Production, in Guyana. The Stena DrillMAX has firm commitments for the remainder of 2025, with options for further extensions. Meanwhile, the Stena Carron is confirmed for work throughout 2026, also with additional extension options available. These ongoing projects highlight Stena Drilling’s strong position in the market and its ability to secure long-term contracts with major operators.