The Government of Guyana, through the Ministry of Natural Resources, has signed a Production Sharing Agreement (PSA) for shallow-water Block S4 offshore Guyana with a consortium comprising QatarEnergy (35%), TotalEnergies (40%, operator), and PETRONAS (25%).
The award was made under the 2022 Guyana Licensing Round, the country’s inaugural bid round, marking another major step in the country’s efforts to responsibly develop its hydrocarbon resources.
The ministry said this agreement reflects continued confidence in Guyana’s petroleum sector and underscores the country’s attractiveness as a global investment destination for major international energy companies.
The PSA for this block attracts a signing bonus of US$15M.
Minister of Natural Resources, Vickram Bharrat, welcomed the signing, stating, “We are pleased to welcome QatarEnergy, TotalEnergies and Petronas as new partners in Guyana’s petroleum sector. This investment demonstrates continued international confidence in Guyana’s transparent and robust licensing framework, and it reflects our government’s commitment to ensuring that the development of our natural resources is done sustainably and for the benefit of all Guyanese.”
Block S4 spans an area of approximately 1,788 square kilometres, located 50 to 100 kilometres off Guyana’s coast in water depths ranging between 30 and 100 metres. Exploration activities will be conducted in keeping with Guyana’s regulatory requirements and international best practices for environmental protection and resource management.
“We want to go fast,” said TotalEnergies’ Vice President of Exploration for the Americas, Daniel Larrañaga. “We want to explore this basin as soon as we can.”
Meanwhile, the Ministry of Natural Resources has reiterated the government’s commitment to ensuring that all petroleum operations are conducted with the highest levels of environmental stewardship, transparency, and local participation.
The ministry said it looks forward to collaborating closely with the consortium as Guyana continues to strengthen its position as a responsible and emerging energy producer.
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