QatarEnergy acquires interest in North Cleopatra exploration block offshore Egypt

QatarEnergy has entered into an agreement with Shell to acquire a 27% participating interest in the North Cleopatra block offshore the Arab Republic of Egypt.

Under the terms of the agreement, Shell will retain a 36% participating interest as operator. The other participating interest holders are Chevron and Tharwa.

The North Cleopatra block is located offshore Egypt in the frontier Herodotus basin and is north and adjacent to the North El-Dabaa block, where QatarEnergy holds a 23% participating interest. The North Cleopatra block covers an area of over 3,400 sq km in water depths of up to 2,600 m.