Total Signs Exploration Agreement for Offshore Egypt Block
Image: Upstream Online
Total will operate the North Ras Kanayis block offshore Egypt, following the signing of an exploration and production agreement with the Egyptian Natural Gas Holding Company.
Located in the Mediterranean Sea, the block spans 4,550 km2 and is located approximately 150-km from shore in the Herodotus Basin. As the area remains relatively underexplored, the French major will conduct a 3D seismic campaign during the first three years of the agreement.
“Total is pleased to further strengthen its Eastern Mediterranean position as an operator of this exploration and production agreement,” said 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.”
According to the agreement, Total holds a 35% operating interest, Shell holds 30%, KUFPEC holds 25% and Tharwa holds 10%.