GEORGETOWN, Guyana (CMC) –  The Guyanese government Tuesday signed a  production sharing agreement for the shallow-water Block S4 offshore Guyana with a consortium of international companies comprising QatarEnergy, TotalEnergies, and PETRONAS.

The Ministry of Natural Resources said the award, made under the 2022 Guyana Licensing Round, marks another milestone in the country’s ongoing efforts to responsibly develop its  hydrocarbon resources and reinforces international confidence in Guyana’s transparent and robust petroleum framework.

“Block S4, located 50 to 100 kilometres off the coast and covering 1,788 square kilometres in  water depths ranging between 30 and 100 metres, will be explored in accordance with local regulations and international best practices as we continue to strengthen our position as a responsible and emerging energy producer.”

Natural  Resources Minister, Vickram  Bharrat,  in welcoming the signing, said “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.”

The ministry said that 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 statement said, adding that the ministry “looks forward to collaborating closely with the consortium as Guyana continues to strengthen its position as a responsible and emerging energy producer.”