QatarEnergy to acquire asset interest offshore Egypt from Chevron

QatarEnergy has agreed to acquire working interest in the concession agreement for the North El-Dabaa (H4) block in the Mediterranean Sea offshore Egypt from Chevron Corp.

QatarEnergy will acquire a 23% interest, while Chevron (operator) will retain a 40% interest. Other partners on the block are Woodside (27%) and Tharwa Petroleum Co., an Egyptian state company, (10%).

The North El-Dabaa (H4) block lies about 10 km offshore the Egyptian Mediterranean shore at water depths of 100-3,000 m.