QatarEnergy adds to Uruguay offshore acreage

Uruguay

DOHA, May 20, 2026 – QatarEnergy has increased its participation in Uruguay’s offshore upstream sector with the acquisition from Shell subsidiary BG International of a non-operated interest in Block OFF-4, QatarEnergy announced on Wednesday.

The company acquired 18% in OFF-4 to join block operator APA Corporation, which holds a 50% stake, and Shell, which will remain with a 32% interest.

In March 2026, QatarEnergy acquired 30% of Block OFF-2 from operator Shell, which retained a 70% interest. The company also entered Block OFF-7, where Shell farmed out two 30% stakes to QatarEnergy and Chevron, retaining 40% and the operatorship.

“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,” said QatarEnergy president and CEO Saad Sherida Al Kaabi.

The blocks range in size from 11,155 square kilometres to 18,227 square kilometres and are located offshore Uruguay’s Atlantic coast in water depths between 40 metres and 4,000 metres.

QatarEnergy is Qatar’s state-owned energy company with activities across oil and gas exploration and production, refining, LNG production, trading and marketing.

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