QatarEnergy said Monday it entered into an agreement with Chevron (NYSE:CVX) to acquire a 23% working interest in the concession agreement for North El-Dabaa H4 Block in the Mediterranean Sea offshore Egypt;

QatarEnergy to buy 23% stake Agreement for North El-Dabaa Adds to exploration portfolio State-backed QatarEnergy has announced plans to buy a 23 percent stake in an offshore exploration block in Egypt from US oil company Chevron. Chevron will retain a 40 ...

QatarEnergy will buy a 23% stake from Chevron in an offshore exploration block in Egyptian waters, it said on Monday.

State-owned QatarEnergy has agreed to farm in to a frontier exploration block offshore Egypt where Chevron has just spudded what will be a closely-watched exploration well. The Qatari heavyweight on Monday said it has agreed with Chevron to acquire a 23% working interest in the North El-Dabaa (H4) block,

Pursuant to the agreement, QatarEnergy will acquire a 23 per cent interest, while Chevron (the operator) will retain a 40 per cent interest. The other partners on the block are Woodside with a 27 per cent interest and Tharwa Petroleum Company, an Egyptian state company, with a 10 per cent interest.

QatarEnergy has entered into an agreement with Chevron to acquire a 23% working interest in the concession agreement for the North El-Dabaa (H4) Block, in the Mediterranean Sea offshore Egypt.