QatarEnergy farms into Uruguay offshore blocks, joins Egypt-Cyprus gas study effort

QatarEnergy is expanding its upstream footprint in South America and the Eastern Mediterranean through new agreements with major partners, including Shell and ExxonMobil, targeting offshore exploration acreage and potential gas monetization pathways.

QatarEnergy acquires interests in blocks offshore Uruguay 

QatarEnergy has signed agreements to farm into three exploration blocks offshore Uruguay, all with Shell.

Shell subsidiary BG International is transferring an 18% interest to the company in Block OFF-4, and 30% in blocks OFF-2 and OFF-7.

The concessions span areas ranging from 11,155 to 18,227 sq km and water depths from 40 to 4,000 m.

Following the farm-ins, operatorship and working interests for the three offshore blocks entails:

• Block OFF-2: Shell retains a 70% operated interest, with QatarEnergy holding 30%.
• Block OFF-4: APA Corp. remains operator with 50% interest, in partnership with Shell (32%) and QatarEnergy (18%).
• Block OFF-7: Shell remains operator with 40% interest, in partnership with Chevron (30%) and QatarEnergy (30%).

QatarEnergy inks MoU to study development of Cyprus gas discoveries

In the eastern Mediterranean region, QatarEnergy has signed a memorandum of understanding (MoU) with ExxonMobil and Egypt’s government to study the potential for development and commercialization of Cyprus’ offshore gas discoveries through Egypt’s existing gas and LNG export infrastructure.

The three parties plan to assess future growth opportunities and flexible commercial frameworks concerning Egypt’s role and facilities for supplying both domestic consumers and global markets as a potential hub for Eastern Mediterranean gas.