{"id":619902,"date":"2024-05-13T00:00:00","date_gmt":"2024-05-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/"},"modified":"2024-05-13T00:00:00","modified_gmt":"2024-05-13T00:00:00","slug":"qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/","title":{"rendered":"QatarEnergy to acquire 40% stake in two of ExxonMobil\u2019s offshore exploration blocks in Egypt"},"content":{"rendered":"

QatarEnergy to snap up stakes in two offshore exploration blocks: <\/strong>Qatari state-owned oil and gas company QatarEnergy<\/a> is set to acquire a 40% working interest in ExxonMobil\u2019s Cairo and Masry offshore concessions under a farm-in agreement inked by the two parties, the company said<\/a> yesterday. ExxonMobil will retain the remaining 60% of the two concessions.<\/p>\n

What\u2019s next?<\/strong> The agreement is subject to customary approvals by the Madbouly government, the statement reads.<\/p>\n

About the blocks:<\/strong> The Cairo and Masry offshore exploration blocks were awarded to ExxonMobil in January 2023. Located in the outer Nile Delta<\/a>, the two blocks span approximately 11.4 sq kms.<\/p>\n

Exploration to begin this year?<\/strong> It was reported back in February that ExxonMobil would begin<\/a>exploring for gas<\/a> in the two concessions this year. Last year, it was reported<\/a> that Exxon will invest USD 200 mn to explore for oil and gas in the two wells.<\/p>\n

QatarEnergy and Exxon are already in business together here: <\/strong>ExxonMobil owns 60% of the Mediterranean\u2019s North Marakia offshore concession, while QatarEnergy holds the remaining 40%.<\/p>\n","protected":false},"excerpt":{"rendered":"

ExxonMobil will retain the remaining 60% of the two concessions.<\/p>\n","protected":false},"author":1,"featured_media":619903,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72,778,91,8587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-619902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-exxonmobil","tag-oil-and-gas","tag-qatarenergy","wpautop","entry"],"acf":{"mongo_id":"2cf52dab-19a1-46a3-99f0-1ad026313784","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/823.jpg","photo_position":"above","homepage_title":"","full_issue_title":"QatarEnergy to acquire 40% stake in two of ExxonMobil\u2019s offshore exploration blocks in Egypt","related_issue":[619893],"teaser":"ExxonMobil will retain the remaining 60% of the two concessions.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.b1f7a020-f07d-4fd3-b8fc-4ac3b14c1753.mp3"},"yoast_head":"\nQatarEnergy to acquire 40% stake in two of ExxonMobil\u2019s offshore exploration blocks in Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"QatarEnergy to acquire 40% stake in two of ExxonMobil\u2019s offshore exploration blocks in Egypt\" \/>\n<meta property=\"og:description\" content=\"ExxonMobil will retain the remaining 60% of the two concessions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-13T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/823.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"QatarEnergy to acquire 40% stake in two of ExxonMobil\u2019s offshore exploration blocks in Egypt\",\"datePublished\":\"2024-05-13T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/\"},\"wordCount\":183,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/823.jpg?fit=%2C&ssl=1\",\"keywords\":[\"energy\",\"EnterpriseAM\",\"ExxonMobil\",\"oil and gas\",\"QatarEnergy\"],\"articleSection\":[\"Energy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/13\/qatarenergy-to-acquire-40-stake-in-two-of-exxonmobils-offshore-exploration-blocks-in-egypt\/\",\"name\":\"QatarEnergy to acquire 40% stake in two of ExxonMobil\u2019s offshore exploration blocks in Egypt - 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Plus: Oriental Weavers\u2019 net income doubles in 2023","author":"enterpriseam admin","date":"29 February 2024","format":false,"excerpt":"Exxon is also gearing up to explore for gas in its Masry and Cairo other two concessions this year","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2862.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591000,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/more-oil-and-gas-exploration-in-the-med-and-gulf-of-suez\/","url_meta":{"origin":619902,"position":2},"title":"More oil and gas exploration in the Med and Gulf of Suez","author":"enterpriseam admin","date":"30 July 2023","format":false,"excerpt":"ExxonMobil, Kufpec and Pico Energy will partner with state energy firms to explore for hydrocarbons","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1167.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":660057,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/05\/exxonmobil-to-begin-drilling-long-awaited-exploratory-gas-wells-in-early-2026\/","url_meta":{"origin":619902,"position":3},"title":"ExxonMobil to begin drilling long-awaited exploratory gas wells in early 2026","author":"enterpriseam admin","date":"5 February 2025","format":false,"excerpt":"Good afternoon, wonderful people, and welcome to the almost-weekend. Today\u2019s issue is full to the brim, and includes a discussion with Mashreq Egypt\u2019s Mohamed Talaat about recent trends in Egypt\u2019s banking sector, as well as the challenges and the opportunities to expect this year.THE BIG STORY TODAY ExxonMobil to invest\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/477.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578710,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/apex-acquires-shares-in-six-oil-concessions-from-eni\/","url_meta":{"origin":619902,"position":4},"title":"Apex acquires shares in six oil concessions from Eni","author":"enterpriseam admin","date":"11 January 2023","format":false,"excerpt":"Egypt-focused oil and gas firm Apex International Energy will acquire shares in six producing oil concessions in the Western Desert from Eni, the company said in a statement yesterday. The assets will raise Apex\u2019s production by 65% to 11.5k barrels per day, which the company says will make it the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/167.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":673103,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/06\/were-importing-less-lng-than-originally-planned-this-month\/","url_meta":{"origin":619902,"position":5},"title":"We\u2019re importing less LNG than originally planned this month","author":"enterpriseam admin","date":"6 October 2025","format":false,"excerpt":"We\u2019ll welcome six shipments of LNG this month","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/313.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/619902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=619902"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/619902\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/619893"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/619903"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=619902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=619902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=619902"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=619902"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=619902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}