Qatar Energy acquires a 23% stake in North El Dabaa Block from Chevron
The Qatari state-owned oil company and the concession’s operator Chevron also have plans to drill the block’s first exploratory well
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The Qatari state-owned oil company and the concession’s operator Chevron also have plans to drill the block’s first exploratory well
The project is part of a broader plan to develop gas reserves in the Narges field
The developer also has plans to set up ten schools in the Egyptian market
Chevron will initially invest USD 60 mn in the drilling
The concessions were awarded to BP, ExxonMobil, TotalEnergies, Chevron, and Shell.
The increased volumes will depend on output from the Tamar field increasing
EKH also wants to set up electricity distribution stations under build-own-transfer agreements with the government
Chevron wants to ramp up production to 1 bn cf within two years
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