Posted on October 6, 2025
QatarEnergy has agreed to acquire a 27% stake in Egypt’s North Cleopatra offshore block.
QatarEnergy has signed an agreement with Shell to acquire a 27% participating interest in the North Cleopatra block offshore the Arab Republic of Egypt, strengthening its upstream presence in the eastern Mediterranean.
Under the terms of the deal, which remains subject to approval by the Egyptian government, Shell will retain a 36% interest and continue as operator. Chevron holds a 27% stake, while Tharwa Petroleum Company owns the remaining 10%.
His Excellency Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, said the agreement marks an important step in expanding the company’s exploration footprint.
“We are pleased to secure this additional exploration acreage, which further expands our upstream exploration activities in the Arab Republic of Egypt,” Al-Kaabi said.
He expressed appreciation to the Egyptian Ministry of Petroleum and Mineral Resources and QatarEnergy’s partners for their support and cooperation, adding:
“We look forward to working together and delivering our exploration objectives.”
Located in the frontier Herodotus Basin offshore Egypt, the North Cleopatra block lies north of and adjacent to the North El-Dabaa block, where QatarEnergy already holds a 23% stake. The block spans more than 3,400 square kilometres in water depths reaching up to 2,600 metres.
