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Thursday, October 5, 2023
The exploration and production rights for the East Port Said (Egy-Med-E8) block has been awarded to a consortium comprised of Eni (operator, 34%), QatarEnergy (33%), and bp (33%) under the 2022 EGAS International Bid Round.
Located offshore Egypt’s northeastern Mediterranean coast, the East Port Said block lies in water depths up to 800 meters and covers an area of approximately 2,600 square kilometers.
A release by the Qatari company stated: “This award solidifies QatarEnergy’s position in Egypt’s upstream sector with a total of four offshore exploration blocks, including interests in Red Sea Block 3 and Block 4, and the North Marakia block in the Mediterranean Sea.”
Commenting on this award, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of QatarEnergy, said: “We are delighted to be awarded the East Port Said block, which further expands our presence in the Arab Republic of Egypt. We look forward to collaborating with the Ministry of Petroleum and Natural Resources, EGAS, and our partners ENI and BP to progress our exploration endeavors.”
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