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Oil & Gas

ExxonMobil, QatarEnergy sign farm out for North Marakia block offshore Egypt

North Marakia
Posted: March 30, 2022 at 7:41 pm   /   by   /   comments (0)

ExxonMobil signed an agreement to farm out working interest in the North Marakia exploration block offshore Egypt to QatarEnergy.

Subject to customary approvals by the government of Egypt, QatarEnergy will hold a 40% working interest in the North Marakia Offshore Block in the Mediterranean Sea, An ExxonMobil affiliate will remain operator with 60% interest.

The block, which covers an area of 4,847 km2 in water depths of 1,000m to 2,000m, lies 5 miles offshore Egypt’s northern coast in the Herodotus basin. It was awarded to ExxonMobil in 2020.

(Source: Oil & Gas Journal)