TotalEnergies has expanded its presence in the offshore exploration frontier of Guyana by signing a production sharing contract for a new exploration block, Block S4. The agreement, formalized with the Ministry of Natural Resources of Guyana, represents the award of the block under the country's 2022 Licensing Round.

Partnership and Operatorship

TotalEnergies will operate the block with a 40% working interest. The company's partners in the venture are QatarEnergy, holding a 35% interest, and Petronas, holding a 25% interest.

Block Location and Geological Context

Block S4 is located approximately 50 to 100 kilometers off the Guyanese coast. The 1,788 km² block is situated in shallow water and lies within a proven hydrocarbon basin that has been the site of some of the largest oil discoveries globally in the past decade.

Initial Work Program

The initial work program for the block will include the acquisition of 2,000 km² of 3D seismic data. This data will be used to evaluate the exploration prospects within the block.

Strategic Rationale

The acquisition aligns with a corporate strategy focused on exploring for material resources that are low-cost and low-emission. The company also views this project as an opportunity to strengthen its global partnerships and bring its operational expertise to Guyana.

Context within Guyana's Oil Sector

This new award further consolidates Guyana's position as a key offshore exploration hub. TotalEnergies now joins other major operators, including ExxonMobil and Hess, who are pursuing growth in the country's expanding deepwater and shallow-water basins.

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