KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS), through its wholly-owned subsidiary, PETRONAS Energy Guyana Sdn Bhd, has signed a petroleum agreement (PA) for Block S4, located in the offshore region of Guyana.
Block S4 covers approximately 1,787 square kilometres and is strategically located along favourable hydrocarbon migration pathways, said PETRONAS in a statement today.
"The PA was executed with the government of Guyana, together with consortium partners TotalEnergies EP Guyana Shallow SAS and QatarEnergy.
"Under the PA, PETRONAS holds a 25 per cent participating interest, while QatarEnergy holds 35 per cent and TotalEnergies, with a 40 per cent stake, will serve as the operator of Block S4," said the national oil and gas company.
The PA marks PETRONAS’s first foray into Guyana, further expanding its presence in the Americas region, following the consortium’s successful bid in the 2022 Guyana Licensing Bid Round.
It represents a significant milestone in PETRONAS's expansion within the Guyana-Suriname Basin, a region universally recognised as an emergent exploration frontier.
PETRONAS vice president of exploration, Faisal Bakar, said the company's participation in the Guyana-Suriname Basin marks a notable chapter in PETRONAS’ journey of international growth.
"This partnership with TotalEnergies and QatarEnergy reinforces our shared aspiration for a resilient and progressive upstream sector," he said. - Bernama
