QatarEnergy to Buy 27% Stake in Egypt’s North Cleopatra Offshore Block
QatarEnergy has signed an agreement to buy a 27% stake in Egypt’s North Cleopatra offshore block from Shell, the company announced on Sunday.
Deal details
After the deal, Shell will continue to operate the block and keep a 36% stake. Chevron will hold 27%, and Egypt’s Tharwa Petroleum Company will own the remaining 10%.
The North Cleopatra block covers over 3,400 square kilometers and lies in water up to 2,600 meters deep. It is located in the Herodotus Basin, off Egypt’s coast, next to the North El-Dabaa block, where QatarEnergy already owns a 23% share.
The agreement still needs approval from the Egyptian government.
Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy, thanked the Egyptian Ministry of Petroleum and the company’s partners for their support. He said this new project will further grow QatarEnergy’s exploration work in Egypt.
Other recent projects
In September, QatarEnergy partnered with France’s TotalEnergies and Congo’s national oil company, SNPC, to explore the Nzombo offshore block in Congo. Under this deal, QatarEnergy will own 35%, TotalEnergies will operate the project with 50%, and SNPC will hold 15%.
Later that month, QatarEnergy also signed a contract with Samsung C&T to build a large solar power plant in Dukhan, Qatar.
The Dukhan plant will have a capacity of 2,000 megawatts (MW) by mid-2029, making it one of the largest in the world. Located about 80 kilometers west of Doha, the project will be built in two phases and will double Qatar’s solar power capacity, helping the country meet its renewable energy goals.
Published: 6th October 2025
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