A group led by Total has signed up to explore an offshore block in Egypt’s Herodotus Basin, in the Mediterranean Sea.
Total has a 35% stake and is the operator of the North Ras Kanayis Offshore licence.
Other participants include Shell with 30%, KUFPEC with 25% and Tharwa Petroleum 10%. State-owned Egyptian Natural Gas Holding (EGAS) is also a party to the exploration and production agreement.
The block covers 4,550 square km, at distances from the shore of 5 km to 150 km. Water depths range from 50 metres to 3,200 metres.
Total described the Herodotus Basin as under explored. It plans to shoot 3D seismic in the first three years.
The agreement on the North Ras Kanayis was one of 12 signed in mid-2020 by
“Total is pleased to further strengthen its Eastern Mediterranean position as an operator of this exploration and production agreement,” said Total’s senior vice president exploration Kevin McLachlan.
“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 licence, to be developed through a tie-in to nearby existing infrastructure.”
Eni is the operator of North El Hammad with a 37.5% stake, while Total has 25%. BP has the remaining 37.5%.
Shell also announced it had signed up to explore Block 3, covering 3,097 square km, in the Red Sea.