QatarEnergy has entered into a significant accord with Chevron Corporation CVX to acquire a 23% stake in Egypt’s offshore North El-Dabaa (H4) block. The block is located 10 kilometers off the Mediterranean coast in Egypt,

QatarEnergy will buy a 23% stake from Chevron in an offshore exploration block in Egyptian waters, it said on Monday.

QatarEnergy said Monday it entered into an agreement with Chevron (NYSE:CVX) to acquire a 23% working interest in the concession agreement for North El-Dabaa H4 Block in the Mediterranean Sea offshore Egypt;

State-owned QatarEnergy has agreed to farm in to a frontier exploration block offshore Egypt where Chevron has just spudded what will be a closely-watched exploration well. The Qatari heavyweight on Monday said it has agreed with Chevron to acquire a 23% working interest in the North El-Dabaa (H4) block,

And in the same month QatarEnergy was part of a consortium that agreed to develop the second phase of the Sépia oil and gas field, 200km off the coast of Brazil. QatarEnergy repo

QatarEnergy has entered into an agreement with Chevron to acquire a 23% working interest in the concession agreement for the North El-Dabaa (H4) Block, in the Mediterranean Sea offshore Egypt.