Woodside awarded stake in offshore Egyptian plays

Egypt

CAIRO, April 24, 2023 – Woodside Energy has acquired shares in two offshore licences in Egypt’s Mediterranean Sea, the Australian E&P player announced in its Q1 2023 report on Friday.

The company reported taking 27% non-operating stake in both Block 2 and Block 4, known as North Sidi Barrani and North El Dabaa blocks respectively.

The concessions located on the Herodotus basin are operated by Chevron, which held a 90% stake in the acreage along with state-owned partner Tharwa Petroleum with a 10% stake before the deal.

Costs and change in shares of the acquisitions were not revealed.

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