The H4 Block is located 10 kilometres off the Egyptian Mediterranean shore and its water depths range between 100 and 3,000 metres.

QatarEnergy has entered into an agreement with Chevron to acquire a 23 percent working interest in the concession agreement for Egypt’s offshore North El-Dabaa (H4) Block, expanding its exploration in the country.

Announced on Monday by QatarEnergy, the agreement stipulated that Chevron, the operator, will hold a 40 percent interest whereas Woodside will acquire 27 percent. 

Egypt’s state company, Tharwa Petroleum, will acquire the remaining 10 percent interest.

The H4 Block is situated 10 kilometres off the Egyptian Mediterranean coast, with water depths ranging from 100 to 3,000 metres.

In a statement, QatarEnergy President and CEO, Saad Al-Kaabi, said the agreement demonstrated the Qatari entity’s “commitment to the oil and gas sector” in Egypt.

“We look forward to the drilling of the first exploration well on this block and to a successful and promising outcome. I would like to take this opportunity to thank the Egyptian authorities and our partners,” Al-Kaabi, who is also Qatar’s Minister of State for Energy affairs, added.

The latest agreement comes after a farm-in deal QatarEnergy had signed with ExxonMobil in May over the acquisition of a 40 percent participating interest in two exploration blocks offshore Egypt.

Meanwhile, in October 2023, Egypt’s EGAS awarded QatarEnergy a new offshore exploration block following a “competitive” bidding round. 

This granted QatarEnergy 33 percent of a consortium that also comprised Italy’s ENI (34 percent ) and the United Kingdom’s BP (33 percent).