Eni completes farmout of offshore Egypt interest to QatarEnergy

Eni completed a farm-in transaction with QatarEnergy for interest in the North Rafah exploration block offshore the Arab Republic of Egypt.

The agreement, recently approved by the government of Egypt, grants QatarEnergy a 40% stake in the offshore concession, with operator Eni retaining the remaining 60% interest.

North Rafah offshore block lies in the Mediterranean Sea, off the northeastern coast of Egypt. It spans nearly 3,000 sq km in 450 m of water.