QatarEnergy Wins Bid for New Offshore Exploration Block in Egypt
The results of the competitive bid process were announced by Egypt’s Ministry of Petroleum and Mineral Resources, awarding exploration and production rights for block EGY-MED-E8 (East Port Said) to a consortium comprising QatarEnergy (33%), ENI (Operator, 34%) and BP (33%).
This award solidifies QatarEnergy’s position in Egypt’s upstream sector with a total of four offshore exploration blocks, including interests in Red Sea Block 3 and Block 4, and the North Marakia block in the Mediterranean Sea.
Minister of State for Energy Affairs and QatarEnergy President and CEO HE Saad Sherida Al-Kaabi said the East Port Said block further expands their presence in Egypt.
We look forward to collaborating with the Ministry of Petroleum and Natural Resources, EGAS and our partners ENI and BP to progress our exploration endeavours.
Located offshore Egypt’s northeastern Mediterranean coast, the East Port Said block lies in water depths up to 800 metres and covers an area of approximately 2,600 square kilometres.
Check out Marhaba’s FREE e-Guides for everything you need to know about Qatar.