While finally confirming approval for Qatar Petroleum taking a stake in Total’s holdings in the offshore Orinduik and Kanuku blocks, Minister of Natural Resources Vickram Bharrat on Friday said that a total of 14 international companies now have working interests in this country’s eight offshore oil blocks.
“As we know it, we have eight blocks with 14 international oil companies operating in Guyana, the latest being Qatar Petroleum,” Bharrat told the National Assembly during his contribution to the 2021 budget debate.
In 2019, Qatar Petroleum had announced that it had signed an agreement with Total S.A. to obtain a share of exploration and production rights in two offshore blocks here. The company had said that it would mean that it would hold some 40% of Total’s 25% participating interest in the Orinduik Block, and 40% of Total’s 25% participating interest in the neighboring Kanuku Block.