Blocks OFF-2, OFF-4 and OFF-7 lie off Uruguay’s Atlantic coast, covering areas of 11,155 to 18,227 sq km, with water depths ranging from 40 to 4,000 metres.
QatarEnergy has acquired participating interests in three offshore exploration blocks in Uruguay from BG International Limited, a Shell subsidiary, marking the company’s first entry into the country’s upstream sector.
“We are pleased to strengthen our relations with our strategic partner Shell through these agreements, which mark our first entry into Uruguay’s upstream sector while further expanding our footprint in South America,” Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, said in a press release on Wednesday.
QatarEnergy has taken an 18 percent stake in Block “OFF-4”, where Shell holds 32 percent and APA Corporation operates with 50 percent.
QatarEnergy has also acquired a 30 percent interest in Block “OFF-2”, operated by Shell with a 70 percent stake.
In the Block “OFF-7”, QatarEnergy now holds 30 percent, alongside operator Shell with 40 percent and Chevron with 30 percent.
“We would like to thank the Uruguayan authorities for their support, and we look forward to working with our partners on this opportunity and to achieve positive results for the benefit of all parties,” Al-Kaabi, who is also QatarEnergy’s President and CEO, said.
Blocks OFF-2, OFF-4 and OFF-7 lie off Uruguay’s Atlantic coast, covering areas of 11,155 to 18,227 sq km, with water depths ranging from 40 to 4,000 metres.
QatarEnergy has expanded various its South American portfolio in recent years, including offshoe interests in Brazil and Suriname.
In 2025, QatarEnergy signed two production‑sharing contracts for Suriname’s Blocks 9 and 10. Under the agreements, QatarEnergy held a 20% working interest in Block 9, alongside operator PETRONAS Suriname (30%), Chevron (20%) and Staatsolie’s affiliate Paradise Oil Company (30%).
In Block 10, QatarEnergy held a 30% interest, with Chevron operating the block with 30%, PETRONAS Suriname holding 30% and POC holding 10%.
In 2021, QatarEnergy, in a consortium with TotalEnergies and PETRONAS, was awarded Brazil’s Sepia Surplus Production Sharing Contract. The deal gave QatarEnergy a 21% stake, alongside operator Petrobras (30%), TotalEnergies (28%) and PETRONAS (21%).
In May 2024, QatarEnergy announced that the consortium partners have taken the final investment decision for the second development phase of the Sepia field.