QatarEnergy,Qatars state-owned petroleum company, has signed an agreement to explore the offshoreBlock S4off the coast of Guyana.

Under the terms of the deal, QatarEnergy will hold a 35% stake, while partners TotalEnergies, the operator, will hold 40%, and PETRONAS will hold 25%, Qatar News Agency reported Sunday.

Commenting on the agreement, Minister of State for Energy AffairsSaad bin Sherida Al Kaabisaid, We are pleased to secure this exploration block in Guyana, further building on our strategy to expand global upstream exploration activities.

Block S4 covers 1,788 square kilometers and lies about 50 to 100 kilometers off Guyanas coast, in water depths ranging from 30 to 100 meters.

QatarEnergy operates all of Qatars oil and gas activities, including exploration, production, refining, transport, and storage. The company is considered the worlds largest producer of liquefied natural gas (LNG) and aims to become a leading global energy company while expanding its presence in international markets.