TotalEnergies SE, QatarEnergy and Petroliam Nasional Bhd (Petronas) have signed a production sharing contract (PSC) for Block S4 in Guyana’s shallow waters.
French energy giant TotalEnergies is operator with a 40 percent stake. State-owned QatarEnergy holds 35 percent. Malaysia’s state-owned Petronas owns 25 percent.
The block spans 1,788 square kilometers (690.35 square miles), about 50-100 kilometers (31.07-62.14 miles) from shore, according to the partners.
“The initial work program consists of a 2,000-square-kilometer 3D seismic acquisition”, TotalEnergies said in an online statement Tuesday.
Nicola Mavilla, TotalEnergies senior vice president for exploration, said, “TotalEnergies is delighted to bring its expertise as an operator to Guyana, in a shallow-water offshore block within this prolific basin, and to further strengthen its global strategic partnerships with QatarEnergy and Petronas”.
“This block fits our strategy of exploring for material, low-cost and low-emission resources”, Mavilla added.
Petronas said separately, “This signing marks Petronas’ first foray into Guyana, further expanding its presence in the Americas region”.
“It represents a significant milestone in Petronas’ expansion within the Guyana-Suriname Basin, a region universally recognized as emergent exploration frontiers”, Petronas added.
Petronas and QatarEmergy signed two new PSCs offshore neighboring Suriname last week.
Petronas gets 30 percent in Block 9 as operator through Petronas Suriname E&P BV. Chevron Corp holds 20 percent through Suriname Exploration Ltd, QatarEnergy 20 percent through QatarEnergy International E&P LLC and state-owned Staatsolie’s Paradise Oil Co NV (POC) 30 percent, Staatsolie said in a press release November 5.
Chevron has secured operatorship of Block 10 with a 30 percent interest. Petronas has 30 percent, QatarEnergy 30 percent and POC 10 percent.
The two leases sit in shallow waters about 50 kilometers from the Saramacca coast. The water depth is up to 50 meters (164.04 feet). Block 9 spans 2,674 sq km while Block 10 covers 2,972 sq km. Each license lasts 30 years, Staatsolie said.
“By signing these PSCs, the parties involved obtain the exclusive rights for exploration, development and production in the respective blocks”, Staatsolie said. “The initial phase of the exploration period will last three years, during which the focus will be on acquiring and processing 3D seismic data to map the subsurface structure”.
QatarEnergy said separately its presence in Suriname now comprises seven offshore blocks.
Petronas said in its own statement it now holds stakes in eight blocks offshore Suriname. Block 9 and 10 “mark a significant milestone in Petronas’ continued expansion in the Suriname-Guyana Basin, a region recognized globally for its hydrocarbon potential”.
Petronas noted both blocks are “strategically located between proven deepwater discoveries and onshore producing fields”.
To contact the author, email jov.onsat@rigzone.com
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