QatarEnergy broadens its oil & gas footprint in Uruguay and Eastern Mediterranean

May 25, 2026, by Melisa Cavcic

Qatar’s state-owned oil and gas giant QatarEnergy has taken steps to bring new exploration blocks off the coast of Uruguay into its fold, while sealing a gas cooperation deal in the Eastern Mediterranean.

Uruguay's offshore blocks; Source: QatarEnergy — Uruguay’s offshore blocks; Source: QatarEnergy

QatarEnergy has acquired participating interests in three exploration blocks offshore the Oriental Republic of Uruguay from BG International, a subsidiary of the UK’s Shell. This portfolio enlargement entails an 18% interest in block OFF-4, while Shell held 32%, and APA Corporation, as the operator, retained the remaining 50%.

The Persian Gulf state’s giant has also secured a 30% interest in block OFF-2, which is operated by the UK energy giant with a 70% interest. QatarEnergy has also obtained a 30% interest in the third exploration block OFF-7, with Shell as the operator, retaining 40%, and Chevron holding the remaining 30%.

All three blocks are located offshore Uruguay’s Atlantic coast, covering areas ranging from 11,155 to 18,227 square kilometers in water depths ranging from 40 to 4,000 meters.

Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, President and CEO of QatarEnergy, commented: “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.

“We would like to thank the Uruguayan authorities for their support, and we look forward to working with our partners on this opportunity and to achieve positive results for the benefit of all parties.”

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Meanwhile, QatarEnergy has signed a memorandum of understanding (MoU) with the government of the Arab Republic of Egypt and ExxonMobil to study enabling the potential development and commercialization of gas discoveries in Cyprus through the Egyptian existing gas and LNG export infrastructure.

“This collaboration reflects the shared intent of all parties to developing integrated and commercially sustainable energy solutions to support growing regional demand, while enhancing connectivity between regional and international markets,” highlighted the Middle Eastern player.

This MoU is perceived to enable the three players to study future growth opportunities and flexible commercial frameworks in light of the country’s position in the region and its gas infrastructure, which serves both domestic consumers and global markets.

The Qatari firm highlights Egypt’s role as a potential hub for Eastern Mediterranean gas, supporting deeper integration with Cyprus in the field of natural gas while optimizing the utilization of existing infrastructure.

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Al-Kaabi emphasized: “This MoU represents an important step in advancing regional energy cooperation across the Eastern Mediterranean through unlocking the long-term commercial potential of natural gas resources across that region.

“We look forward to working closely with the government of Egypt and our strategic partner ExxonMobil to achieve the objectives of this MoU for the benefit of all parties.”

The MoU is interpreted to reinforce Egypt’s role in the Eastern Mediterranean and its continued commitment to advancing regional energy development through strong partnerships and infrastructure integration.

The moves in Uruguay and Egypt come shortly after QatarEnergy teamed up with TotalEnergies, ConocoPhillips, and the Syrian Petroleum Company (SPC) to search for hydrocarbons in the Mediterranean Sea offshore Syria.