ExxonMobil is preparing for a return to offshore exploration in eastern Canada, with plans to drill up to two exploration wells in the Newfoundland and Labrador region in 2028.

The U.S. energy giant has reportedly begun the process of identifying a suitable offshore drilling rig for the planned campaign, signaling renewed interest in frontier exploration opportunities off Canada’s Atlantic coast.

The proposed drilling programme forms part of ExxonMobil’s broader efforts to expand its exploration portfolio and evaluate new hydrocarbon prospects in regions with significant untapped potential.

Newfoundland and Labrador have long been considered one of North America’s most promising offshore oil and gas areas, attracting investment from major international energy companies.

While details of the targeted prospects have not been publicly disclosed, industry sources indicate that the company is assessing options for a two-well exploration programme that could commence in 2028, subject to regulatory approvals and operational planning.

ExxonMobil has maintained a presence in Canada’s offshore sector through various partnerships and exploration interests over the years. The latest move suggests the company sees continued opportunity in the region despite growing global focus on energy transition and lower-carbon investments.

If successful, the exploration campaign could open the door to future development projects and strengthen Canada’s position as a key offshore oil-producing region.

The planned drilling activity is still in the early stages, with rig selection and project preparations expected to continue over the coming months.