QatarEnergy has signed an agreement with Chevron to acquire a 23% working interest in the North El-Dabaa (H4) Block, located offshore in the Mediterranean Sea near Egypt. Under this arrangement, Chevron will continue as operator with a 40% stake. The remaining interests are held by Woodside at 27% and Tharwa Petroleum Company, an Egyptian state entity, at 10%.
His Excellency Mr. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, stated: “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.”
He also said: “We look forward to the drilling of the first exploration well on this block and to a successful and promising outcome. I would like to take this opportunity to thank the Egyptian authorities and our partners Chevron, Woodside, and Tharwa Petroleum for their support.”
The North El-Dabaa (H4) Block is situated about 10 kilometers from Egypt’s Mediterranean coastline, with water depths ranging from 100 meters up to 3,000 meters.
