French multi-energy company TotalEnergies is teaming up with QatarEnergy and Malaysian gas and oil giant Petronas to investigate offshore hydrocarbon potential in Guyanese waters.
Headquartered in Paris La Défense, France, TotalEnergies produces and markets a wide range of energy types including natural gas, oil, electricity and biofuels. Operating in more than 130 nations around the world, it also engineers and supplies lubricants for specialist markets with solutions like vacuum pump fluid and transformer oil.
QatarEnergy recently confirmed it had signed a production sharing agreement with TotalEnergies and Petronas for S4, a shallow water block off the coast of Guyana. Formerly known as Qatar Petroleum, the state-owned energy company was awarded the block in 2022 during the Arab state’s licensing round.
CEO and President of QatarEnergy and the country’s minister for Energy, Saad Sherida Al-Kaabi commented on the new agreement. He remarked that the company was pleased to have secured the exploration block based in Guyana and to build on its strategy to grow its global exploration activities. He thanked TotalEnergies and Petronas alongside the Republic of Guyana’s government for their cooperation and support, adding that he looked forward to working jointly to achieve their objectives.
Under the partnership, TotalEnergies will hold a 40 per cent stake as operator, while its collaborators, Petronas and QatarEnergy, will have the remaining 25 per cent and 35 per cent interests respectively. The exploration block covers an area of 1,788 km² and is sited around 50 to100 km from Guyana’s coastline.
