QatarEnergy, the State-owned petroleum company, has entered into an agreement with Chevron to acquire a 23 percent working interest in the concession agreement for the North El-Dabaa (H4) Block, in the Mediterranean Sea offshore Egypt.
Under the agreement, QatarEnergy will acquire a 23 percent interest, while Chevron (the operator) will retain a 40 percent interest. The other partners on the block are Woodside with a 27 percent interest and Tharwa Petroleum Company, an Egyptian state company, with a 10 percent interest.
His Excellency Mr. Saad Sherida Al-Kaabi Minister of State for Energy Affairs, President and CEO, QatarEnergy
“This agreement demonstrates our commitment to the oil and gas sector in the Arab Republic of Egypt, and further strengthens our partnersh ip with our valued partner Chevron. We look forward to the drilling of the first exploration well on this block and to a successful and promising outcome. I would like to take this opportunity to thank the Egyptian authorities and our partners Chevron, Woodside, and Tharwa Petroleum for their support.”
The North El-Dabaa (H4) Block lies about 10 kilometers offshore the Egyptian Mediterranean shore at water depths ranging between 100 and 3,000 meters.
Recently, QatarEnergy opened the 2-day “Tawteen Forum 2024”, which is being held to expand “Tawteen” program’s inclusivity and adaptability, and to increase its benefits to all participants that will enhance the localization of services and industries in the energy sector in the State of Qatar.
