QatarEnergy has agreed to acquire a 23% interest from Chevron in the North El-Dabaa (H4) Block concession in the Mediterranean Sea offshore Egypt.
Chevron will retain a 40% operated stake; the other partners are Woodside Energy (27%) and Egyptian state-owned Tharwa Petroleum Co. (10%).
Saad Sherida Al-Kaabi, president and CEO of QatarEnergy, said, “We look forward to the drilling of the first exploration well on this block...”
North El-Dabaa (H4) is 10 km offshore in water depths ranging from 100-3,000 m.
