QatarEnergy has completed a farm-in transaction with Eni, acquiring a 40% participating interest in the North Rafah exploration block offshore the Arab Republic of Egypt.

The agreement, recently approved by the government of Egypt, grants QatarEnergy a 40% stake in the offshore concession, with Eni (the Operator) retaining the remaining 60% interest.

Commenting on this agreement, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “We are pleased with our new position in the North Rafah offshore block, which further strengthens our presence in Egypt and marks another important step in advancing our ambitious international exploration strategy.”

His Excellency Minister Al-Kaabi added: “We extend our thanks to the Ministry of Petroleum and Natural Mineral Resources in Egypt, and our partner Eni for their valued support and cooperation. We look forward to working together to achieve our exploration objectives.”

The North Rafah offshore block is located in the Mediterranean Sea, off the northeastern coast of Egypt. It spans nearly 3,000 square kilometers in water depths of up to 450 meters.

About QatarEnergy

As a fully integrated energy corporation, QatarEnergy covers the full spectrum of the oil and gas value chain – from exploration to production, from processing and refining to sales and delivery.
As stewards of Qatar's natural resources and the world's largest provider of LNG, our strength rests in our ready access to Qatar's unique reserves to provide energy that fuels social and economic prosperity.

About Eni

Eni is a global energy tech company operating in 64 Countries, with about 32,500 employees. Originally an oil & gas company, it has evolved into an integrated energy company, playing a key role in ensuring energy security and leading the energy transition. Eni's goal is to achieve carbon neutrality by 2050 through the decarbonization of its processes and of the products it sells to its customers.
In line with this goal, Eni invests in the research and development of technologies that can accelerate the transition to increasingly sustainable energy. Renewable energy sources, bio-refining, carbon capture and storage are only some examples of Eni's areas of activity and research. In addition, the company is exploring game-changing technologies such as fusion energy - a technology based on the physical processes that power stars and that could generate safe, virtually limitless energy with zero emissions.