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QatarEnergy to buy 27% stake in Egypt’s North Cleopatra offshore block from Shell, pending approval.
QatarEnergy has agreed to buy a 27% stake in Egypt’s North Cleopatra offshore exploration block from Shell, pending Egyptian government approval.
The block, in the Herodotus basin with water depths up to 2,600 meters, spans over 3,400 square kilometers.
Shell will retain 36% and act as operator, while Chevron holds 27% and Tharwa Petroleum 10%.
The deal expands QatarEnergy’s presence in Egypt, where it already holds a 23% interest in the nearby North El-Dabaa block.
The company cited cooperation with Egypt’s energy ministry and partners as key to its exploration goals.
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QatarEnergy comprará una participación del 27% en el bloque offshore North Cleopatra de Egipto a Shell, a la espera de su aprobación.