QatarEnergy has signed an agreement with Chevron for oil and gas exploration in Egypt. This agreement allows QatarEnergy to acquire a 23% stake in the concession agreement for the North El-Dabaa (H4) Block in the Mediterranean Sea offshore Egypt.
According to the agreement, QatarEnergy will hold a 23% stake, while Chevron will retain a 40% share. Other partners include Woodside with a 27% stake and Tharwa Petroleum Company with a 10% share.
QatarEnergy President Saad Sherida Al-Kaabi emphasized QatarEnergy’s commitment to the oil and gas sector in Egypt and strengthening cooperation with Chevron. He also expressed gratitude to the Egyptian authorities and partners Chevron and Woodside.
The North El-Dabaa (H4) Block is located approximately 10 kilometers off the Egyptian Mediterranean coast, at water depths ranging from 100 to 3,000 meters.
