—As Minister Bharrat highlights global confidence in energy landscape grows

Global confidence in Guyana’s robust energy sector continues to expand, as on Tuesday, the government through the Ministry of Natural Resources signed a new Production Sharing Agreement (PSA) for shallow-water Block S4 with a consortium comprising QatarEnergy (35%), TotalEnergies (40%, operator), and PETRONAS (25%).

See the full release from the Ministry below:
The Government of Guyana, through the Ministry of Natural Resources, is pleased to announce the signing of 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 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.

Minister of Natural Resources, Vickram Bharrat, M.P., 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.

The Ministry of Natural Resources reiterates 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 looks forward to collaborating closely with the consortium as Guyana continues to strengthen its position as a responsible and emerging energy producer.