QatarEnergy has entered into an agreement 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.
Under the new agreement, QatarEnergy will acquire a 23% stake in the North El-Dabaa (H4) Block, with Chevron (as operator) holding a 40% interest. Other stakeholders include Woodside with a 27% share and Egypt’s Tharwa Petroleum Company with 10%.
His Excellency Mr. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and CEO of QatarEnergy, remarked, “This agreement underscores our commitment to Egypt’s oil and gas sector and further strengthens our partnership with Chevron.” Minister Al-Kaabi also expressed anticipation for the upcoming exploration activities, stating, “We look forward to drilling the first exploration well on this block and achieving a promising outcome. Our thanks go to the Egyptian authorities and our partners Chevron, Woodside, and Tharwa Petroleum for their cooperation.”
Located approximately 10 kilometers off Egypt’s Mediterranean coast, the North El-Dabaa (H4) Block spans water depths from 100 to 3,000 meters.
