A Total-led international consortium of oil and gas companies has signed an exploration and production agreement for the North Ras Kanayis offshore block located in the Herodotus Basin, offshore Egypt in the Mediterranean Sea.
France-based Total is the operator with a 35% stake. Partners are Shell 30%, KUFPEC 25%, Tharwa 10%) and the Egyptian Natural Gas Holding company (EGAS) have signed
The exploration block covers an area of 4,550 sq km, extending from 5 to 150 km from the shore, with water depths ranging from 50 to 3,200 m. The Herodotus Basin is an underexplored area and the agreement, signed with Egyptian Natural Gas Holding company (EGAS) includes a 3D seismic campaign during the first three years, Total said.
‘‘Total is pleased to further strengthen its Eastern Mediterranean position as an operator of this exploration and production agreement’’, commented Kevin McLachlan, Senior Vice President Exploration at Total.
“We are excited by the exploration potential of the North Ras Kanayis Offshore block. It reinforces our presence in Egypt, following a gas discovery made in July 2020 with the Bashrush well on the North El Hammad license, to be developed through a tie-in to nearby existing infrastructure.”
Total holds a working interest of 25% in the North El Hammad license, alongside operator ENI (37.5%) and BP (37.5%).