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The Guyana government has formally awarded a five-year exploration licence for offshore Block S4 to a trio of international energy majors: TotalEnergies (operator¹), QatarEnergy and Malaysia’s PETRONAS. The agreement signals new momentum in Guyana’s upstream oil and gas sector as the country seeks to diversify beyond the deep-water frontier dominated by other players.
Block S4 spans approximately 1,788 km², lying about 50-100 km off Guyana’s coast in water depths of roughly 30–100 metres.
Under the production-sharing contract (PSC), TotalEnergies holds 40 % and will act as operator, QatarEnergy holds 35 %, and PETRONAS holds 25 %.
The contract was awarded under Guyana’s 2022/2023 offshore licensing round, the first time the government had opened this sector more widely.
The initial work programme will include acquisition of about 2,000 km² of 3D seismic data across the block to evaluate its hydrocarbon potential.
For TotalEnergies, the move into Block S4 fits a broader strategy of pursuing “material, low-cost and low-emission” resources.
Guyana’s petroleum province has become a magnet for major upstream companies since the discovery of significant resources in the neighbouring deepwater region. For QatarEnergy, the partnership broadens its upstream international portfolio beyond its Gulf base. PETRONAS, meanwhile, marks its debut in Guyana through this award.
From Guyana’s side, the deal demonstrates growing investor confidence in its licensing framework and regulator. Minister Vickram Bharrat welcomed the signing, emphasising the government’s aim that investment should be “win-win” for the country and the investor.
Guyana’s offshore acreage has been principally shaped by the massive Stabroek Block, operated by ExxonMobil and partners, in which huge discoveries have turned the small nation into one of the fastest-growing oil producers globally.
The award of Block S4 shows the government opening up shallower water areas and diversifying the players involved.
The seismic advantage of Block S4’s shallower water depth implies lower operational cost and shorter development timelines compared with ultra-deepwater projects—if commercial discovery is made.
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