QatarEnergy has acquired 40% participating interest in the North Rafah exploration block offshore the Mediterranean Sea through a farm-in-transaction with Italian Eni, the Operator of the block, which would retain the remaining 60% interest.
QatarEnergy has been expanding its presence in Egypt. In October, the company signed a deal with British Shell to acquire a 27% participating interest in the North Cleopatra block offshore Egypt.
“We are pleased with our new position in the North Rafah offshore block, which further strengthens our presence in Egypt and marks another important step in advancing our ambitious international exploration strategy,” said Saad Al-Kaabi, the Qatari Minister of State for Energy Affairs and the President and CEO of QatarEnergy.
North Rafah block spans nearly 3,000 square kilometers in water depths of up to 450 meters.
