Qatar Energy Spoke About a New Exploration Block in the Mediterranean Sea
The Qatari state-owned energy company QatarEnergy received a new exploration block East Port Said in the Mediterranean Sea as part of a competition held by the Republic of Egypt, the Qatari company reported in a press release.
As part of the international tender EGAS 2022, QatarEnergy became the owner of a 33% stake in the EGY-MED-E8 block, along with BP (33%) and Italian operator Eni (34%).
Situated on the north-eastern coast of the Mediterranean Sea, East Port Said has a depth of 800 m and an area of approximately 2,600 sq. km.
The acquisition of exploration and production rights to the offshore block strengthens QatarEnergy’s position in Egypt, where it already has interests in four other blocks, the company said.
QatarEnergy controls all stages of the oil sector in Qatar, including exploration, production, refining, transportation and storage.
