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, His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, and 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.”
H.E. 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 metres. Located in shallow waters close to shore, it is promising due to its strategic location close to proven geological trends.
Guyana has emerged as a fast-growing energy frontier, following a wave of major offshore oil discoveries that have transformed its economic outlook and drawn interest from leading global energy companies. In line with this, the government launched the 2022 Licensing Round, offering both shallow- and deep-water blocks to broaden exploration activity and attract diversified expertise.
QatarEnergy’s participation aligns with its strategy of expanding its upstream portfolio into high-potential regions. The agreement reinforces the company’s vision to strengthen its presence in the Americas, following recent ventures in Suriname and Brazil. It strongly reflects Guyana’s efforts to build strategic international partnership, as it develops its energy sector for long-term production growth.
This partnership also highlights Guyana’s commitment to fostering a competitive investment environment, as it expands its energy sector. Rising interest from several leading global companies has led to the country balancing rapid development with strategic resource management.
