Doha: In a strategic move to expand its global energy footprint, QatarEnergy has finalized an agreement with Shell to acquire a 27% participating interest in the North Cleopatra offshore block in Egypt, the company announced on Sunday. This acquisition highlights QatarEnergy’s continuing efforts to diversify its international oil and gas investments and strengthen its presence in the Eastern Mediterranean.

The North Cleopatra block, situated in the frontier Herodotus basin, spans over 3,400 square kilometers in the eastern Mediterranean Sea, with water depths reaching up to 2,600 meters. Shell, the operator, retains a 36% stake, while Chevron holds an equal 27% interest. The remaining 10% belongs to Tharwa Petroleum Company, an Egyptian state-owned firm. The deal is still subject to reg

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