GEORGETOWN, Guyana — The Government of Guyana has signed a Production Sharing Agreement (PSA) for the shallow-water Block S4 with a consortium led by TotalEnergies, marking QatarEnergy’s first venture into Guyana’s petroleum sector and another milestone in the country’s expanding oil and gas industry.
The agreement, announced by the Ministry of Natural Resources, grants a 40 percent operating interest to TotalEnergies, with QatarEnergy holding 35 percent and Malaysia’s PETRONAS the remaining 25 percent. The award was made under Guyana’s 2022 Licensing Round — the country’s inaugural competitive bid process for offshore blocks — reflecting growing investor confidence in Guyana’s transparent and structured petroleum framework.
Minister of Natural Resources Vickram Bharrat said the partnership demonstrates the continued strength of Guyana’s energy governance. “We are pleased to welcome QatarEnergy, TotalEnergies and Petronas as new partners in Guyana’s petroleum sector,” Bharrat stated. “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 about 1,788 square kilometers, located 50 to 100 kilometers off Guyana’s coast in water depths ranging from 30 to 100 meters. Exploration activities will adhere to national regulatory standards and international best practices for environmental management.
Guyana has rapidly emerged as one of the world’s newest oil frontiers since ExxonMobil’s 2015 discovery in the Stabroek Block, which remains the largest and most advanced offshore development. The ExxonMobil-led consortium — comprising Hess Corporation and China’s CNOOC — has made more than 40 discoveries and is currently producing over 600,000 barrels of oil per day from two floating production, storage and offloading (FPSO) vessels. Output is expected to exceed 1.3 million barrels per day by 2027 as additional FPSOs come online.
In addition to Stabroek, other active PSAs include the Kaieteur, Canje, and Orinduik blocks, each held by international operators such as ExxonMobil, Tullow Oil, and partners. The signing of the Block S4 PSA adds to this growing portfolio, diversifying participation and reinforcing Guyana’s position as a leading emerging energy producer in the Western Hemisphere.
The Ministry reaffirmed its commitment to ensuring that all petroleum operations are conducted with the highest standards of environmental stewardship, transparency, and local participation. Officials said the government looks forward to working closely with the new consortium as Guyana continues to balance responsible resource development with sustainable national growth.