QatarEnergy Uruguay expansion plans have taken a major step forward after the state-owned energy giant secured stakes in three offshore exploration blocks along Uruguay’s Atlantic coast. The agreements strengthen QatarEnergy’s growing presence in South America and deepen its partnership with global energy company Shell.
The latest acquisition marks QatarEnergy’s first entry into Uruguay’s upstream energy sector as the company continues to expand its international exploration and production portfolio.
According to details released on Thursday, QatarEnergy acquired interests in three offshore exploration blocks previously held by BG International, a subsidiary of Shell.
QatarEnergy Uruguay Deal Expands Offshore Portfolio
Under the agreement, QatarEnergy secured an 18% stake in the OFF-4 exploration block. Shell retains a 32% interest, while APA Corporation continues as operator with a 50% share.
The company also acquired a 30% stake in the OFF-2 block, where Shell remains the operator with a controlling 70% interest.
In the third offshore block, OFF-7, QatarEnergy obtained a 30% participating interest. Shell will continue operating the block with a 40% share, while Chevron holds the remaining 30%.
The three offshore assets are located along Uruguay’s Atlantic coastline and cover vast exploration areas ranging between 11,155 and 18,227 square kilometres. Water depths across the blocks range from shallow 40-meter zones to deepwater areas reaching 4,000 meters.
QatarEnergy Strengthens Global Energy Strategy
The QatarEnergy Uruguay expansion highlights the company’s broader strategy of increasing its global upstream investments beyond the Middle East. QatarEnergy has been actively pursuing exploration opportunities across Africa, Latin America, and other international markets as demand for energy resources continues evolving.
Saad Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy, described the deal as an important milestone for the company’s South American operations.
He said the agreements strengthen QatarEnergy’s strategic relationship with Shell while opening a new chapter for the company in Uruguay’s offshore sector.
Al-Kaabi also thanked Uruguayan authorities for their support and expressed optimism about future exploration success alongside international partners.
Why Uruguay’s Offshore Sector Matters
Uruguay’s offshore basin has increasingly attracted global attention due to its untapped hydrocarbon potential. Energy companies are exploring the region as part of wider efforts to discover new reserves across South America’s Atlantic margin.
Several analysts have compared parts of Uruguay’s offshore geology to productive oil basins found offshore Namibia and Brazil, raising industry interest in future discoveries.
While exploration activity remains in relatively early stages, international companies continue investing in seismic studies and drilling programmes aimed at unlocking potential reserves.
The involvement of major players such as QatarEnergy, Shell, Chevron, and APA Corporation reflects growing confidence in the long-term prospects of Uruguay’s offshore energy sector.
QatarEnergy Continues International Expansion
The QatarEnergy Uruguay agreement adds to a series of international investments made by the company in recent years. QatarEnergy has expanded aggressively into offshore exploration projects globally while also strengthening its position in liquefied natural gas production.
The company remains one of the world’s leading LNG exporters and continues developing major projects aimed at increasing production capacity over the coming decade.
Industry experts say QatarEnergy’s international partnerships are helping the company diversify geographically while maintaining influence across key energy markets.
The latest Uruguay deal further reinforces QatarEnergy’s ambition to become a major global upstream player beyond its dominant gas operations in Qatar.
As offshore exploration activities continue across South America, the success of these new projects could play a significant role in shaping future regional energy development.
