QatarEnergy Signs Agreement for Guyana Offshore Exploration Block

QatarEnergy has signed a Production Sharing Agreement for shallow-water Block S4 offshore the Cooperative Republic of Guyana.

The block was awarded through the 2022 Guyana Licensing Round.

Under the terms of the agreement, QatarEnergy will hold a 35% share, while its partners TotalEnergies (the operator) will hold 40%, and PETRONAS will hold 25%.

Commenting on this agreement, HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, who is also the President and CEO of QatarEnergy, said: “We are pleased to secure this exploration block in Guyana, further building on the strategy to expand our global upstream exploration activities.”

Minister al-Kaabi added, “I would like to thank the Government of the Cooperative Republic of Guyana and our partners in the block for their valued support and cooperation. We look forward to working together to deliver on our exploration objectives.”

Block S4 covers an area of 1,788 km2 and is situated approximately 50-100 km from Guyana’s coast, in water depths of 30-100 meters.