Published on 5/20/2026
Qatar Energy expanded its presence in South America by entering the exploration and production sector in Uruguay for the first time, after signing agreements to acquire shares in three offshore areas for oil and gas exploration off the coast of the country, according to a company statement.
Qatar Energy announced that it had concluded agreements with BG International Limited, a subsidiary of Shell, to acquire an 18% stake in the Off-4 exploration area, in which Shell retains a 32% stake, while ABA Corporation, which operates the project, owns a 50% stake.
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The Qatari company also acquired a 30% stake in the “Off-2” area, compared to 70% for the operating company, “Shell”, in addition to a 30% stake in the “Off-7” area, along with “Shell” with a 40% share and “Chevron” with a 30% share.
The Minister of State for Energy Affairs and CEO of Qatar Energy, Saad bin Sherida Al-Kaabi, said that the agreements “represent our first entry into the exploration and production sector in Uruguay, which expands our presence in South America.”
Al-Kaabi added that Qatar Energy looks forward to working with its partners “to achieve positive results that benefit all parties.”
The three exploration areas are located in the Atlantic Ocean off the coast of Uruguay, and cover areas ranging from 11,155 to 18,227 square kilometers, with water depths ranging between 4 and 40 thousand metres.
