Qatar Energy has expanded its exploration activities in Egypt by acquiring a 23% stake in the North Dabaa Offshore Area (H4) concession agreement. This agreement was signed with the American company Chevron, which retains a 40% stake in the project. Other stakeholders include Australian Woodside with a 27% stake and Egyptian state-owned Tharwa Petroleum with a 10% stake. The North Dabaa Marine Area is located about 10 kilometers off the Egyptian coast in the Mediterranean Sea, with water depths ranging from 100 to 3,000 meters.
Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, emphasized that this agreement underscores Qatar Energy's commitment to the oil and gas sector in Egypt and strengthens its partnership with Chevron. He expressed optimism about the upcoming drilling operations and thanked the Egyptian authorities and partners for their cooperation.
Qatar Energy is focused on sustainable development in the energy sector, covering a wide range of activities including exploration, production, refining, and trading of oil and gas products.
