The deal represents a significant milestone in PETRONAS’ expansion within the Guyana-Suriname Basin, a region universally recognised as emergent exploration frontiers.
GEORGETOWN (Guyana): Petroliam Nasional Bhd (PETRONAS), through its wholly-owned subsidiary PETRONAS Energy Guyana Sdn Bhd (PEGSB), has signed a Petroleum Agreement (PA) for Block S4, located in the shallow offshore region of Guyana.
The PA was executed with the government of the cooperative republic of Guyana, together with consortium partners TotalEnergies EP Guyana Shallow SAS (TotalEnergies) and QatarEnergy (QatarEnergy).
This signing marked PETRONAS’ first foray into Guyana, further expanding its presence in the Americas region.
The award of this PA followed the consortium’s successful bid in the 2022 Guyana Licensing Bid Round.
It represented a significant milestone in PETRONAS’ expansion within the Guyana-Suriname Basin, a region universally recognised as emergent exploration frontiers.
Block S4 covers approximately 1,787 sq km and is strategically located along favourable hydrocarbon migration pathways.
Under the PA, PETRONAS holds a 25% participating interest, while QatarEnergy holds 35% and TotalEnergies, with a 40% stake will serve as the operator of Block S4.
The signing ceremony, held in Georgetown, was attended by representatives from all parties.
PETRONAS was represented by Harris Saifi B Hakimi, the government of Guyana by its minister responsible for petroleum Vickram Bharrat, TotalEnergies by Daniel Larranaga, and QatarEnergy by Ali Al-Mana.
PETRONAS vice-president of exploration Faisal Bakar said: “Our participation in the Guyana-Suriname Basin marks a notable chapter in PETRONAS’ journey of international growth.
“Guided by a disciplined approach to expanding our global presence, we are dedicated towards realising the basin’s proven prolificness and nurturing enduring value for our stakeholders.
“This partnership with TotalEnergies and QatarEnergy reinforces our shared aspiration for a resilient and progressive upstream sector.”
The inclusion of Block S4 in Guyana further strengthened PETRONAS’ footprint in the Americas and its position as globally competitive energy player. — Bernama
