In a significant development for Guyana’s energy sector, the government has inked a production sharing agreement for the shallow-water Block S4 offshore Guyana with a consortium of global energy giants, including QatarEnergy, TotalEnergies, and PETRONAS. The agreement, finalized on Tuesday, was awarded under the 2022 Guyana Licensing Round and underscores the nation’s commitment to responsibly harnessing its hydrocarbon resources while bolstering international confidence in its petroleum framework. Located 50 to 100 kilometers off the coast, Block S4 spans 1,788 square kilometers in water depths ranging from 30 to 100 meters. Exploration activities will adhere to both local regulations and international best practices, ensuring environmental protection and sustainable resource management. Natural Resources Minister Vickram Bharrat expressed enthusiasm for the partnership, highlighting the consortium’s investment as a testament to Guyana’s transparent and robust licensing framework. He emphasized the government’s dedication to sustainable development and equitable benefits for all Guyanese. The Ministry of Natural Resources reaffirmed its commitment to environmental stewardship, transparency, and local participation in all petroleum operations, signaling Guyana’s emergence as a responsible energy producer on the global stage.
Guyana signs production sharing agreements with international oil and gas firms
