What specific offshore blocks in Uruguay did QatarEnergy acquire stakes in, and what are the respective ownership percentages?

QatarEnergy acquired a 30% stake in block OFF-2 (where Shell is operator with 70%), a 30% stake in block OFF-7 (where Shell holds 40% and Chevron holds 30%), and an 18% stake in block OFF-4 (operated by APA Corporation, which holds 50%, while Shell holds 32%).

Why is QatarEnergy's entry into Uruguay's upstream sector significant, according to the news?

This marks QatarEnergy's first entry into Uruguay’s upstream energy sector and strengthens its strategic alliance with Shell — a key partner in energy projects both within Qatar and globally — as part of its multi-year effort to build an international upstream portfolio including interests in Brazil, Cyprus, and Egypt.

QatarEnergy buys stakes in Uruguay offshore blocks from Shell subsidiary

May 20, 2026

QatarEnergy has acquired interests in three offshore exploration blocks in Uruguay from Shell, marking its first entry into the country's upstream sector and strengthening its strategic alliance.

reuters

2026-04-20

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QatarEnergy buys stakes in Uruguay offshore blocks from Shell subsidiary

QatarEnergy buys stakes in Uruguay offshore blocks from Shell subsidiary

FAQ