QatarEnergy has completed a farm-in transaction with Italian group Eni for the North Rafah offshore exploration block, located off the northeastern Egyptian coast. The transaction, recently approved by the Government of Egypt, grants QatarEnergy a 40% participating interest in the concession, while Eni retains a 60% majority stake and remains the project operator.
The North Rafah block is situated in the Mediterranean Sea, off the Sinai Peninsula. It is part of QatarEnergy’s ongoing international exploration strategy to expand operations beyond the Arabian Peninsula. This venture in Egypt follows a series of recent offshore projects undertaken by the company in strategic regions.
Strengthening energy ties between Doha and Cairo
The agreement highlights growing energy cooperation between Egypt and Qatar, the latter having increased its investments in North African hydrocarbons in recent years. The North Rafah project comes amid a regional surge in oil and gas exploration in the Eastern Mediterranean, an area identified as highly prospective by numerous industry stakeholders.
The Egyptian Ministry of Petroleum and Mineral Resources approved QatarEnergy’s entry into the concession following several months of technical and legal discussions with partners. The Qatari group’s participation is expected to accelerate upcoming seismic and drilling operations.
Eni remains the site operator
As the historical operator of the block, Eni will continue to oversee all technical and logistical operations. The Italian group, already deeply rooted in Egypt, plays a central role in the country’s offshore exploration and production, particularly through projects in the Nile Delta and off the coast of Alexandria.
QatarEnergy’s entry into North Rafah adds to a series of similar agreements signed with Eni in other parts of the world, including Mozambique and Lebanon. These recurring partnerships reflect a shared intention to pool resources and expand their portfolio of strategic assets.
