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QatarEnergy gets 27% interest in North Cleopatra block from Shell

QatarEnergy agreed with Shell to acquire a 27% participating interest in a block offshore Egypt from the oil and gas major, it said in a statement on Sunday. QatarEnergy has in recent years acquired stakes in oil and gas basins, including in Guyana, Lebanon, Namibia and South Africa as part of a strategy to expand its global presence.

7 Oct 2025

Image credit: Sahin Sezer Dinçer on Unsplash

It recently also acquired several exploration blocks offshore Egypt.

The agreement, still subject to Egypt's approval, stipulated that Shell will retain a 36% participating interest as operator of the North Cleopatra block.

Chevron also holds a 27% participating interest, and Egyptian oil and gas firm Tharwa Petroleum Company holds 10%.

The North Cleopatra block is located in the frontier Herodotus basin in the eastern Mediterranean Sea.

It covers an area of over 3,400km² in water depths of up to 2,600m, QatarEnergy said.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/