QatarEnergy acquires 40% stake in North Rafah Offshore exploration block in Egypt
Updated 10/28/2025 8:54:00 AM
Arab Finance: QatarEnergy has acquired a 40% participating interest in Egypt’s North Rafah offshore exploration block through a farm-in agreement with Eni, which will remain the operator with a 60% stake, as per a press release.
The transaction, recently approved by the Egyptian government, marks QatarEnergy’s latest expansion in the Eastern Mediterranean energy sector.
Commenting on this agreement, Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President and CEO of QatarEnergy, said: “We are pleased with our new position in the North Rafah offshore block, which further strengthens our presence in Egypt and marks another important step in advancing our ambitious international exploration strategy.”
Located in the Mediterranean Sea off Egypt’s northeastern coast, the North Rafah offshore block covers an area of nearly 3,000 square kilometers, with water depths reaching up to 450 meters.
On October 5th, QatarEnergy has agreed with Shell to acquire a 27% participating interest in Egypt's North Cleopatra block offshore.
Under this agreement, Shell retains a 36% participating interest as operator, with the other participating interest holders being Chevron and Tharwa Petroleum Company with 27% and 10%, respectively.
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