Offshore staff
DOHA, Qatar – QatarEnergy has entered into agreements with Shell to acquire working interests in two offshore exploration blocks in the Egyptian Red Sea.
Under the terms of the agreements, which are subject to customary approvals by the government of Egypt, QatarEnergy will hold a 17% working interest in blocks 3 and 4.
Block 3 was awarded to Shell in late 2019 and covers an area of 3,097 sq km (1,196 sq mi) in water depths of 100 to 1,000 m (328 to 3,281 ft). Block 4 was also awarded to Shell in late 2019 and covers an area of 3,084 sq km (1,191 sq mi) in water depths of 150 to 500 m (492 to 1,640 ft).
Upon closing of the relevant agreements, the working interests in the two blocks will be as follows:
- Block 3: Shell (operator, 43%), BHP (30%), Tharwa Petroleum Co. (10%), and QatarEnergy (17%).
- Block 4: Shell (operator, 21%), Mubadala (27%), BHP (25%), Tharwa Petroleum Co. (10%), and QatarEnergy (17%).
12/13/2021
