DOHA, Qatar – QatarEnergy has agreed to acquire a 40% interest from ExxonMobil in the North Marakia Offshore Block in the Egyptian sector of the Mediterranean Sea.
ExxonMobil secured the concession in 2020. It covers an area of 4,847 sq km (1,871 sq mi) in water depths of 1,000-2,000 m (3,281-6,562 ft).
The transaction remains subject to approvals from the Egyptian authorities.
