QatarEnergy Expands Egyptian Footprint With New Shell Partnership ...Middle East

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QatarEnergy Expands Egyptian Footprint With New Shell Partnership
source : OILPRICE ( Middle East ) () 74
QatarEnergy struck a deal with Shell to buy a 27% interest in the North Cleopatra offshore oil and gas block in Egypt, with Shell retaining 36% in the block. The deal is pending the approval of the Egyptian government. The Qatari state energy major has been expanding in Egypt alongside Western oil majors, including Shell and Chevron, as the North African country seeks to boost its oil and gas production as fast as possible. Last year, QatarEnergy bought a 40% interest in two Exxon-led blocks offshore Egypt and a 23% stake in a Chevron-operated…

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