BAKU, Azerbaijan, November 12. TotalEnergies, together with partners QatarEnergy and Petronas, has signed a production sharing contract (PSC) for Block S4 with Guyana’s Ministry of Natural Resources, represented by Minister Vickram Bharrat, Trend reports via TotalEnergies.
The signing follows the block’s award in Guyana’s 2022 Licensing Round.
Under the agreement, TotalEnergies holds a 40% operating interest, with QatarEnergy and Petronas holding 35% and 25% respectively. Block S4 covers an area of 1,788 square kilometers and lies approximately 50 to 100 kilometers offshore. The initial exploration program will include a 2,000-square-kilometer 3D seismic survey.
“TotalEnergies is delighted to bring its expertise as an operator to Guyana, in a shallow-water offshore block within this prolific basin, and to further strengthen its global strategic partnerships with QatarEnergy and Petronas,” said Nicola Mavilla, Senior Vice President for Exploration at TotalEnergies. “This block fits our strategy of exploring for material, low-cost, and low-emission resources.”