Georgetown: Petroliam Nasional Bhd (Petronas), through its wholly-owned subsidiary, Petronas Energy Guyana Sdn Bhd, has signed a petroleum agreement for Block S4, located in the offshore region of Guyana.

According to BERNAMA News Agency, Block S4 covers about 1,787 square kilometres and is strategically positioned along hydrocarbon migration pathways. The agreement was executed with the government of Guyana and includes consortium partners TotalEnergies EP Guyana Shallow SAS and QatarEnergy.

Under the terms of the agreement, Petronas holds a 25 percent participating interest, while QatarEnergy has a 35 percent stake. TotalEnergies, with a 40 percent interest, will operate Block S4. This agreement marks Petronas’s initial venture into Guyana, extending its footprint in the Americas following the consortium’s successful bid in the 2022 Guyana Licensing Bid Round.

This development is a key milestone for Petronas as it expands in the Guyana-Suriname Basin, a region known as an emerging exploration frontier. Petronas vice president of exploration, Faisal Bakar, emphasized the significance of this participation as part of the company’s international growth strategy. He noted that the partnership with TotalEnergies and QatarEnergy aligns with their common goal for a resilient upstream sector.