– vessel to stay-on for Govt’s 3D seismic survey

Just over six months after signing the Production Sharing Agreement (PSA) with the Guyana Government, the TotalEnergies-QatarEnergy-PETRONAS consortium has already embarked on a seismic survey in the awarded shallow-water Block S4 offshore Guyana. This was revealed by Natural Resources Minister Vickram Bharrat, who expressed his satisfaction with the pace of progress being undertaken by the consortium.

“They’ve moved ahead to the stage where they’re actually doing the seismic survey right now,” the Minister disclosed during a recent appearance on the Starting Point programme. The consortium-comprising the state-owned QatarEnergy (35 per cent), French-based international petroleum company TotalEnergies (40 per cent, operator), and Malaysian national oil company PETRONAS (25 per cent)-was awarded the S4 Block under the 2022 Guyana Licensing Round, the country’s first-ever bid round. Block S4 spans approximately 1,788 square kilometres (km), located 50 to 100 km off Guyana’s coast in water depths ranging from 30 to 100 metres. Last November, the TotalEnergies-led consortium and the Government inked the PSA, which carries a signing bonus of US$15 million (G$3.1 billion)-an amount that has already been deposited in Guyana’s Natural Resources Fund (NRF) being held at the Federal Reserve Bank of New York. As part of the process leading to the signing of the PSA, the consortium had submitted a work programme -something which the Natural Resources Minister said the Government was confident in, given the strong investment backing that these three partners bring to the table.