In a move that underscores its growing international ambitions, QatarEnergy has reached an agreement with energy giant Shell to acquire a 27% participating interest in the North Cleopatra offshore block in Egypt’s eastern Mediterranean. The agreement, announced Sunday, marks another step in QatarEnergy’s strategic push to broaden its global exploration and production portfolio.

The North Cleopatra block lies within the Herodotus Basin, a relatively untapped frontier area spanning more than 3,400 square kilometers and reaching water depths of up to 2,600 meters. Once finalized, the deal will see QatarEnergy join a consortium of international partners, with Shell retaining a 36% stake and operatorship of the block. Chevron also holds a 27% interest, while Egypt’s Tharwa Petroleum Company maintains a 10% share.

While subject to final approval from Egyptian authorities, the agreement adds to a string of recent acquisitions by QatarEnergy in Egypt. It follows the state-owned company’s broader efforts to secure exploration rights in promising offshore regions globally, including recent investments in Namibia, South Africa, Guyana, and Lebanon.

This latest partnership strengthens QatarEnergy’s presence in the eastern Mediterranean, a region that has attracted increased interest from international energy companies due to its potential for significant gas discoveries.