QatarEnergy acquires new exploration interest offshore Egypt
QatarEnergy has announced the successful completion of a farm-in agreement with Eni, acquiring a 40% participating interest in the North Rafah offshore exploration block in the Arab Republic of Egypt. The transaction, which has received formal approval from the Egyptian government, marks a key step in strengthening QatarEnergy’s exploration portfolio in the Eastern Mediterranean region. Eni, the Operator of the concession, will retain the remaining 60% interest.
The North Rafah offshore block is situated in the Mediterranean Sea, off Egypt’s northeastern coast.
Covering an area of nearly 3,000 square kilometers, the block lies in water depths of up to 450 meters. It forms part of Egypt’s wider strategy to attract international energy companies and boost exploration activity in its offshore basins, which are considered to have significant untapped hydrocarbon potential.
Commenting on the agreement, His Excellency Mr. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, and President and CEO of QatarEnergy, said, “We are pleased to take this important step in enhancing our presence in Egypt through our participation in the North Rafah offshore block. This agreement reflects our commitment to expanding QatarEnergy’s global exploration footprint and to pursuing opportunities that align with our long-term growth strategy.”
His Excellency further extended his gratitude to Egypt’s Ministry of Petroleum and Mineral Resources and to Eni for their support and cooperation. "We extend our thanks to the Ministry of Petroleum and Natural Mineral Resources in Egypt, and our partner Eni for their valued support and cooperation. We look forward to working together to achieve our exploration objectives," he stated.
The transaction strengthens QatarEnergy’s growing exploration and production presence across the region, further consolidating its position as a key global energy player actively contributing to responsible and sustainable resource development.
