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.
Egypt has announced a 15-percent increase in petrol prices, which will come into effect on Friday, as part of a
Egyptian officials convened on Tuesday to discuss the nation’s detention policies, according to human rights lawyers and groups cited
Egypt has been plagued with persistent blackouts this year due to the dual pressures of soaring temperatures increasing the demand
Cairo is now leaning towards permitting IDF troops to remain in a crucial border area historically used by Hamas to
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