1. TotalEnergies signs contract for Block S4 with QatarEnergy and Petronas. 2. Block S4 is located offshore Guyana, about 50-100 km from shore. 3. The project includes 2000 km² 3D seismic acquisition as initial work. 4. TotalEnergies aims for low-cost, low-emission resource exploration. 5. This reinforces partnerships with QatarEnergy and Petronas.
The contract with reputable partners increases TotalEnergies' market presence and potential revenues. Historical examples show similar contracts boosted stock prices significantly in preceding years.
The partnership and exploration plan indicates growth and sustainability focus, which investors favor.
The new contract solidifies strategic growth, impacting financial performance over several years, as seen in past projects.
TotalEnergies (40%, operator) (PARIS:TTE) (LSE:TTE) (NYSE:TTE) and its partners QatarEnergy (35%) and Petronas (25%) have signed a production sharing contract for Block S4 with Guyana's Ministry of National Resources represented by His Excellency Vickram Bharrat, following the block's 2023 award in the Guyana 2022 Licensing Round.
Block S4 is a 1,788 km2 block located about 50-100 km from shore. The initial work program consists of a 2000 km2 3D seismic acquisition.
"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," said Nicola Mavilla, Senior Vice President Exploration of TotalEnergies.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
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