BAKU, Azerbaijan, November 17. QatarEnergy said it has signed a production sharing agreement for shallow-water Block S4 offshore Guyana, expanding its upstream footprint in South America, Trend reports.
The block was awarded in the country’s 2022 licensing round. Under the deal, TotalEnergies will operate the block with a 40% stake, while QatarEnergy will hold 35% and Malaysia’s PETRONAS the remaining 25%.
“We are pleased to secure this exploration block in Guyana, further building on the strategy to expand our global upstream exploration activities,” QatarEnergy CEO and Qatar’s energy minister Saad Sherida Al-Kaabi said in a statement.
Al-Kaabi thanked Guyanese authorities and the company’s partners for “their valued support and cooperation,” adding that QatarEnergy looks forward to working together “to deliver on our exploration objectives.”
Block S4 spans 1,788 square kilometers and lies 50–100 km off Guyana’s coast, in water depths ranging from 30 to 100 meters.