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Posted By OrePulse

Published: 06 Oct, 2025 08:29

Qatar to buy 27% of Egypt offshore block from Shell

State-backed QatarEnergy has agreed to acquire a 27 percent participating interest in a block offshore Egypt from London-headquartered Shell.

The agreement is subject to approval by the Egyptian government, the Qatari gas company said in a statement.

As part of the deal, Shell will retain a 36 percent participating interest as operator. The other participating interest holders are US oil company Chevron (27 percent) and the Egyptian state-owned Tharwa Petroleum Company (10 percent).

The North Cleopatra block is located in the frontier Herodotus basin in the eastern Mediterranean. QatarEnergy also holds a 23 percent interest in the North El-Dabaa block in the Mediterranean.

Last month a consortium comprising QatarEnergy, France’s TotalEnergies and Congolese national oil company SNPC was awarded the Nzombo exploration permit in the Republic of Congo.

Qatar, one of the world’s three largest exporters of liquefied natural gas, expects its North Field East natural-gas expansion project to begin production in mid-2026.

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