QatarEnergy gets 27% interest in North Cleopatra block from Shell

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.