SUBSCRIBE
PROFILE

QatarEnergy acquires 27% stake in Egypt’s offshore North Cleopatra block

QatarEnergy continues its international expansion by acquiring 27% of the offshore North Cleopatra block from Shell, amid Egypt’s strategic push to revive gas exploration in the Eastern Mediterranean.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

QatarEnergy has reached an agreement to acquire a 27% stake in the North Cleopatra block, located in the Mediterranean Sea off the Egyptian coast. The deal was announced in a company statement on October 5. Shell will remain the project operator with a 36% share, while Chevron also holds 27%, alongside state-owned Tharwa Petroleum Company with 10%. The transaction is pending regulatory approval from Egyptian authorities.

A strategic zone in the Mediterranean

The North Cleopatra offshore block covers an area of more than 3,400 km² in the Herodotus Basin, with water depths reaching 2,600 metres. The zone has been considered highly promising since the 2015 discovery of the Zohr field nearby, one of the largest gas fields ever found in the Mediterranean.

QatarEnergy’s entry into the project comes as Egypt intensifies offshore exploration efforts. Since 2021, several tenders have led to new contract signings, including a series in 2025 totalling $340mn. These agreements include the drilling of around ten wells in the Nile Delta and Mediterranean Sea, with participation from international players such as BP, Eni, Shell, and the Egyptian Natural Gas Holding Company (EGAS).

A multi-regional expansion strategy

QatarEnergy, the national oil company of Qatar, is accelerating its international growth strategy through targeted acquisitions in Africa and the Eastern Mediterranean. In Egypt, this deal adds to its presence in the North El-Dabaa block with Chevron and its collaborations with ExxonMobil on the North Marakia and Cairo Offshore blocks.

Across Africa, QatarEnergy has recently acquired 24% of South Africa’s 3B/4B block, 40% in Mauritania’s C-10 block, and 35% in the Nzombo offshore block in Congo. In Namibia, the company reinforced its position in block 2913B following crude oil discoveries in 2022.

Egypt’s energy security priorities

Egyptian authorities are seeking to offset natural declines in mature gas fields and maintain export volumes from the liquefied natural gas (LNG) terminals in Damietta and Idku. These facilities are central to the country’s energy strategy, with significant economic and geopolitical implications amid current global gas market dynamics.

  • Popular on energynews.pro
Hydrogen Valleys: the Clean Hydrogen Partnership selects 36 European applications
Sweden prepares compensation framework to secure nuclear investments
PT SMI invests $144.9mn in key geothermal power plant in Indonesia
JAPEX launches 106MWh high-voltage storage project in Hokkaido
Shizen Energy secures 100MW in solar contracts with Microsoft in Japan
Ukrainian suspected in Nord Stream sabotage faces possible extradition
Polish authorities have 40 days to decide on the extradition of a Ukrainian accused of participating in the 2022 sabotage of the Nord Stream pipelines in the Baltic Sea.
Shizuoka Gas closes tender for seven-year LNG contract starting 2027
The Japanese company has completed the first phase of a tender for five annual cargoes of liquefied natural gas over seven years starting in April 2027, amid a gradual contractual renewal process.
Baker Hughes to supply key liquefaction equipment for Port Arthur LNG Phase 2
Baker Hughes has secured a contract from Bechtel to provide gas turbines and compressors for the second phase of Sempra Infrastructure’s LNG export project in Texas.
Targa invests $1.6bn in NGL pipeline between Permian and Mont Belvieu
Targa Resources will build a 500,000 barrels-per-day pipeline in the Permian Basin to connect its assets to Mont Belvieu, strengthening its logistics network with commissioning scheduled for the third quarter of 2027.
J&F Investimentos targets EDF’s thermal plant amid Brazil’s booming energy M&A
Brazilian holding J&F Investimentos is in talks to acquire EDF’s Norte Fluminense thermal plant, valued up to BRL2bn ($374 million), as energy-related M&A activity surges across the country.
Chevron puts Colorado pipeline assets up for sale for more than $2 billion
Chevron has appointed Bank of America to manage the sale of pipeline infrastructure in the Denver-Julesburg basin, targeting a valuation of over $2 billion, according to sources familiar with the matter.
Hungary secures 10-year LNG contract with Engie through 2038
Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.
Ukrainian suspected in Nord Stream sabotage held in Poland
Wanted by Germany for his alleged role in the 2022 sabotage of the Nord Stream pipelines, a Ukrainian has been arrested in Poland and placed in provisional detention pending possible extradition.
Russia strikes 95 targets and severely damages Ukrainian gas sites
An unprecedented overnight offensive targeted gas infrastructure in Ukraine, damaging several key facilities in the Kharkiv and Poltava regions, according to Ukrainian authorities.
Fluxys declares force majeure at Dunkirk, disrupting LNG deliveries
The Dunkirk LNG terminal, the second largest in continental Europe, is seeing reduced capacity due to a nationwide strike disrupting all French LNG infrastructure.
Russia targets 56 mn tonnes of LNG annually by 2027 despite 2024 decline
Russia’s liquefied natural gas output will increase steadily through 2027 under the national energy development plan, despite a 6% drop recorded in the first eight months of 2024.
QatarEnergy seals major helium export deal with Germany’s Messer
QatarEnergy has signed a long-term contract with Messer to supply 100 million cubic feet of helium per year, strengthening Doha’s position as a key player in this strategic market.
KKR strengthens Middle East presence with stake in ADNOC gas pipelines
US-based fund KKR has acquired a minority interest in the gas pipeline assets of Abu Dhabi oil operator ADNOC, continuing its strategy to expand energy infrastructure investments in the Middle East.
Shell starts production at Victory gas field in the North Sea
Shell UK has started production at the Victory field north of Shetland, integrating its volumes into the national gas network through existing infrastructure to strengthen UK supply.
Exxon requests security guarantees for Mozambique gas project
Exxon is seeking direct support from the Mozambican government to secure its Rovuma LNG project, as Islamist violence continues to hinder investment in the country’s north.
Chevron invests $690 million to revive offshore gas in Equatorial Guinea
Chevron has signed a $690 million agreement with Equatorial Guinea to develop gas from the Aseng field, amid a long-term decline in national oil production and a search for new economic drivers.
TotalEnergies postpones Mozambique LNG gas project restart to 2029
TotalEnergies has set 2029 as the restart date for its Mozambique LNG project, frozen since 2021, delaying the exploitation of a strategic investment worth more than $20bn in liquefied natural gas.
A dedicated company revives the $25bn Nigeria-Morocco pipeline project
The establishment of a dedicated entity marks a new phase for the Nigeria-Morocco pipeline, with tenders and the final investment decision expected by the end of 2025.
Asia could absorb more Russian LNG after the European embargo in 2027
The European ban on Russian liquefied natural gas from 2027 is pushing Siberian producers to reorient their flows to Asia, despite logistical and regulatory constraints.
Caturus Energy deploys the most powerful onshore rig in the United States with Nabors
Caturus Energy has signed a multi-year contract with Nabors Industries to deploy a next-generation onshore rig, aimed at supporting the expansion of its gas output in the Eagle Ford and Austin Chalk formations in Texas.