QatarEnergy expands exploration footprint offshore Egypt

DOHA, November 11, 2024 – QatarEnergy has agreed with Chevron to acquire a 23% working interest in the concession agreement for the North El Dabaa (H4) Block in the Mediterranean Sea offshore Egypt, QatarEnergy announced on Monday.

Chevron will retain a 40% interest and continue to operate the block. The agreement does not affect the interests of the other partners on the block, namely, Woodside, with a 27% stake, and Egyptian state-owned Tharwa Petroleum Company, with 10%.

The North El Dabaa (H4) Block lies about 10 kilometres offshore the Egyptian Mediterranean shore at water depths ranging between 100 and 3,000 metres.

“This agreement demonstrates our commitment to the oil and gas sector in the Arab Republic of Egypt, and further strengthens our partnership with our valued partner Chevron. We look forward to the drilling of the first exploration well on this block and to a successful and promising outcome,” said Saad Sherida Al Kaabi, Qatar’s Minister of State for Energy Affairs and president and CEO of QatarEnergy.

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