QatarEnergy buys 23% of offshore Egypt block from Chevron

QatarEnergy has signed an agreement to buy a 23% working interest in a concession agreement offshore Egypt from the block’s operator Chevron. QatarEnergy will acquire 23% of the North El-Dabaa (H4) Block in the Mediterranean from Chevron, which will retain a 40% interest in the concession. The other partners on the block are Woodside with a 27% interest and Tharwa Petroleum Company, an Egyptian state company, with a 10% interest.

The H4 Block lies about 10 kilometers (6.1 miles) offshore the Egyptian Mediterranean shore at water depths ranging between 100 and 3,000 meters (328 - 9,842 ft).