Chevron-Operated Egypt Offshore Block Gets QatarEnergy Boost

QatarEnergy has entered into a significant accord with Chevron Corporation (CVX) to acquire a 23% stake in Egypt's offshore North El-Dabaa (H4) block. The block is located 10 kilometers off the Mediterranean coast in Egypt, with water depths ranging from 100 to 3,000 meters, signifying valuable potential for oil and gas exploration. Per the agreement, CVX, one of the world's largest publicly traded oil and gas companies, will retain its block-operator role with a 40% stake, and Woodside and Tharwa Petroleum ...