TotalEnergies said in its fourth-quarter 2025 earnings report released on February 12 that a newly signed petroleum license offshore Guyana adds to its pipeline of future projects, as the company pushes to expand exploration acreage across multiple regions.
The French energy major reported that “with a reserve replacement rate of 116% in 2025, TotalEnergies maintains proven reserves life above 12 years, while continuing to build its future project portfolio.” It added that it “expanded its exploration portfolio by entering new licenses in Algeria, the United States, Nigeria, Malaysia, Indonesia, Guyana and Liberia.”
A consortium of Petronas, QatarEnergy and TotalEnergies signed the petroleum exploration license for the S4 shallow block in Guyana’s offshore waters back in November 2025. The agreement followed the country’s auction launched in 2022. The license was signed by the three companies, with TotalEnergies as the operator with a 40% stake, alongside QatarEnergy holding 35% and Petronas 25%.
The signing bonus totaled US$15 million and was paid into Guyana’s Natural Resource Fund. The amount exceeded the previously noted ceiling of US$10 million for shallow-water blocks.
The license marks Petronas’ entry into the Guyana side of the basin shared with Suriname. It also signals the return of TotalEnergies and QatarEnergy to the country, following their exit from the Orinduik Block in January 2024.
