QatarEnergy has made its first foray into Uruguay's upstream energy sector by acquiring stakes in three offshore exploration blocks from Shell. The state-owned company announced it has taken a 30% stake in block OFF-2 and block OFF-7, where Shell retains 70% and 40% stakes, respectively. Additionally, QatarEnergy has acquired an 18% interest in block OFF-4, which is operated by APA Corporation. The three blocks are situated off Uruguay's Atlantic coast, with water depths ranging from 40 to 4,000 meters and covering areas between 11,155 and 18,227 square kilometers. This move not only expands QatarEnergy's exploration portfolio in South America but also reinforces its strategic partnership with Shell, a key collaborator in various energy projects. Despite no commercial oil and gas discoveries in Uruguay thus far, the acquisition aligns with the industry's interest in replicating recent large discoveries in Namibia, given the geological similarities between the regions. QatarEnergy has been actively building its upstream portfolio, with interests in countries such as Brazil, Cyprus, and Egypt.