Mubadala takes Egypt offshore stake
Egypt Block 4 is situated in the Northern Red Sea near the prolific Gulf of Suez Basin. Shell holds a 63% stake in the block, and state E&P firm Tharwa holds the remaining 10%
The block, which comes under state concessionaire Ganope’s domain, was awarded in the 2019 Red Sea Licensing Round.
“The addition of Red Sea Block 4, marks a further extension of our Egypt portfolio with a new high impact growth opportunity alongside a world-class partner in Shell,” Mubadala CEO Bakheet Al Katheeri said.
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