QatarEnergy acquired a 40% stake in the North Rafah offshore gas concession in the Mediterranean from Italy’s Eni, it said in a statement. Eni will remain the operator with a 60% stake in the block, which spans roughly 3k sq km in waters reaching depths of around 450 meters. The value of the transaction wasn’t disclosed.

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Doubling down on the Med: QatarEnergy acquired a 27% stake in the North Cleopatra offshore concession in the Med earlier this month. It’s also on track to acquire a 40% working interest in ExxonMobil’s Cairo and Masry offshore concessions under a farm-in agreement inked last year, and it bagged a 23% operational stake from Chevron in the Med’s North El Dabaa Block. QatarEnergy also holds 40% of the Mediterranean’s North Marakia offshore concession.

…while dialing back from the Red Sea: The company — alongside its partners — exited blocks three and four in the Red Sea — where it held 17% in each — in March.

IN OTHER ENERGY NEWS-

Eni to set up biogas production complex? The Environment Ministry’s Biogas Energy Foundation for Sustainable Development inked a cooperation agreement with Eni to prepare a feasibility study for the establishment of a biogas production complex in Port Said, according to a statement. The facility will use animal and agricultural waste to produce biogas. No additional information was disclosed on the investment costs and timeline of the project.

We heard this before: A government source told EnterpriseAM in April that Eni is working with Egyptian authorities to prepare studies for a project to produce up to 4.7 cbm per day of biogas.

The move comes as part of the government’s push to roll out a series of agriwasterecycling and biogas projects, as well as advance the transition to clean energy.

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