The exploration block will see a 3D seismic campaign taken up by the consortium during the first three years
The exploration block spans an area of 4,550km2. (Credit: wasi1370 from Pixabay)
A consortium led by French energy major Total has signed an exploration and production agreement with the Egyptian Natural Gas Holding (EGAS) for the North Ras Kanayis block, offshore Egypt.
Contained in the Herodotus Basin in the Mediterranean Sea, the exploration block spans an area of 4,550km2. It is located from 5km-150 km from the shore, with water depths in the range of 50m-3,200m.
According to Total, the Herodotus Basin is an underexplored area. The offshore block in the basin is expected to see a 3D seismic campaign taken up by the partners during the first three years of the agreement.
In the consortium, Total is the operator with a stake of 35%. Its partners include Royal Dutch Shell with a 30% stake, Kuwait Foreign Petroleum Exploration Company (KUFPEC) with a 25% stake, and Tharwa with a 10% stake.
Total exploration senior vice president Kevin McLachlan said: ‘‘Total is pleased to further strengthen its Eastern Mediterranean position as an operator of this exploration and production agreement.
“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.”
In the North El Hammad license, Total has a working interest of 25%.
The block’s operator is Eni with 37.5% stake, while another oil and gas major BP holds a stake of 37.5%. The license is located in the Great Nooros Area in the Nile Delta, 11km off the Egyptian coast.