By: Antonio Dey | HGP Nightly News|
The Government of Guyana, through the Ministry of Natural Resources, has officially signed a Production Sharing Agreement (PSA) for Shallow-Water Block S4 offshore Guyana with a consortium comprising QatarEnergy, TotalEnergies, and PETRONAS — marking a new milestone in the country’s growing petroleum sector.
At the signing ceremony, Minister of Natural Resources Vickram Bharrat described the agreement as a “watershed moment” for Guyana’s oil and gas industry, underscoring the continued confidence international energy giants have placed in the nation’s expanding energy potential.
“Already, we have in the Stabroek Block Exxon, Chevron, and CNOOC. Now, in Block S4, we have QatarEnergy, TotalEnergies, and PETRONAS. It is significant to have these companies exploring in the Guyana Basin,” Minister Bharrat stated.
The Minister reaffirmed that all petroleum operations will be conducted in accordance with strict environmental, transparency, and community participation standards, consistent with Guyana’s commitment to responsible resource management.
“Not only were we focusing on production and exploration, but we were also busy building out the framework to manage the sector — a framework that is world-class,” Bharrat emphasized.
The award of Block S4 follows the 2022 Guyana Licensing Round, the country’s first-ever competitive bid process, representing a major stride toward responsible and structured hydrocarbon development.
Block S4 covers approximately 1,788 square kilometres, located 50 to 100 kilometres off Guyana’s coast in water depths of 30 to 100 metres. Exploration activities will adhere to Guyana’s regulatory standards and international best practices to ensure environmental sustainability.
The partnership with QatarEnergy, TotalEnergies, and PETRONAS highlights Guyana’s growing attractiveness as a global energy investment destination, diversifying the country’s petroleum portfolio beyond deepwater exploration.
Minister Bharrat stated that the government remains committed to ensuring mutual benefits from such partnerships.
“Every investor that comes to our shores and signs an agreement with us is of the understanding that this partnership is a win-win partnership,” the Minister affirmed.
The signing signals Guyana’s continued momentum in establishing itself as a responsible, emerging energy producer on the global stage.
