QatarEnergy acquires stake in two Egypt offshore blocks

QatarEnergy has announced the acquisition of two offshore gas exploration blocks from Egypt with a 40-percent participating interest, in a deal with US multinational firm ExxonMobil.
   Under the deal, the Qatari state-owned hydrocarbon giant will receive
stakes in the Cairo and Masry concessions off Egypt's north coast, with the
operator ExxonMobil retaining 60 percent, QatarEnergy said in a statement.
   It did not disclose the cost of the agreement.
   The two offshore exploration blocks were awarded to ExxonMobil in January
2023 and cover an area of approximately 11,400 square kilometres (about 4,400
square miles) in water with a depth of two to three kilometres.