KUALA LUMPUR (Nov 12): Petroliam Nasional Bhd (Petronas) has forayed into Guyana after securing Block S4, a shallow-water offshore exploration area in the South American nation.

Its wholly owned subsidiary Petronas Energy Guyana Sdn Bhd, together with its consortium partners TotalEnergies EP Guyana Shallow SAS and QatarEnergy, has signed a petroleum agreement with the government of Guyana.

TotalEnergies will operate the block with a 40% stake, while QatarEnergy holds 35% and Petronas 25%, according to a statement on Wednesday. 

The award follows the consortium’s successful bid in the 2022 Guyana Licensing Round. 

Covering 1,787 sq km in the Guyana-Suriname Basin, Block S4 sits along strategic hydrocarbon migration pathways, marking a significant milestone in Petronas’ international expansion.

Petronas’ vice president of exploration Faisal Bakar said the venture reflects the company’s commitment to unlocking the basin’s potential and creating long-term value, while strengthening its upstream presence in the Americas. 

“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,” he added.