Qatar Energy acquires a new exploration stake off the coast of Egypt economy

Qatar Energy has concluded a deal with Eni to acquire a 40% participating stake in the North Rafah exploration area located off the coast of Egypt.

Under the terms of the agreement, which was recently approved by the Egyptian government, Qatar Energy obtains a 40% share of the exploration concession, while Eni (the operator) retains the remaining 60%.

The Qatari Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy Company, Eng. Saad bin Sherida Al-Kaabi, said: “We are happy with our new acquisition in the North Rafah offshore area, which strengthens our presence in Egypt and represents another important step towards achieving our ambitious international exploration strategy.”

He added: “I would like to take this opportunity to extend my sincere thanks to the Egyptian Ministry of Petroleum and Mineral Resources, and our partner, Eni, for their valuable support and cooperation. We look forward to working together to achieve our exploration goals.”

The North Rafah Marine Area is located in the Mediterranean Sea, off the northeastern coast of Egypt, and covers an area of ​​approximately 3,000 square kilometers, in water depths of up to 450 metres.

Qatar Energy acquires a new exploration stake off the Egyptian coast#Qatar_Energy⁣ #Qatar pic.twitter.com/SSJhdiL3r3

— QatarEnergy (@qatarenergy) October 27, 2025

Other acquisitions

During the current and last year, Qatar Energy carried out acquisitions in several exploration areas, the most important of which are:

• October 5, 2025: Qatar Energy signs an agreement with Shell, according to which it acquires a 27% participating stake in the “North Cleopatra” area, located off the coast of Egypt.
• September 1, 2025: Qatar Energy obtains an offshore exploration and exploration license in the Republic of the Congo.
• June 18, 2025: Qatar Energy wins a license for prospecting and exploration in Algeria.
• December 15, 2024: Qatar Energy signs an agreement with Harmattan Energy Limited, under which it acquires a share of the petroleum exploration license and petroleum agreement related to a marine area located off the coast of the Republic of Namibia.
• November 24, 2024: Qatar Energy signs an agreement with Total Energies to acquire two new exploration shares off the coast of Namibia.
• November 11, 2024: Qatar Energy signed an agreement with Chevron, according to which it acquired a 23% stake in the concession agreement for the North Dabaa offshore area in the Mediterranean Sea off the coast of Egypt.
• May 12, 2024: Qatar Energy signs an agreement with ExxonMobil, under which it acquires a 40% stake in two exploration areas off the coast of Egypt.