The Qatar Energy Group has announced in a press release published on Sunday October 5, the acquisition of a 27% stake in the North Cleopatra offshore block, located off the coast of Egypt.

The agreement, still subject to the approval of Egyptian authorities, are reconfiguring the distribution of shares on the block. Shell will thus maintain 36% and its role as operator, while chevron will own 27% alongside the public company Tharwa Petroleum Company (10) %).

The North Cleopatra block covers over 3400 km² in depths reaching 2,600 meters in the Herodotus Basin. This zone is considered promising since the discovery in 2015 by Eni of the Zohr field by Eni, which highlighted the considerable gas potential of Egyptian waters.

In recent months, QatarEnergy has strengthened its regional presence through its entry into the North El-Dabaa block alongside chevron , ExxonMobil as well as its cooperations with on the North Marakia and Cairo Offshore blocks.

His participation in North Cleopatra is part of the international expansion strategy of the group, which increased its interests in several African and Mediterranean basins.