Total enters operated exploration permit in Egypt
An international consortium led by Total and the Egyptian Natural Gas Holding company (EGAS) have signed an exploration and production agreement for the North Ras Kanayis Offshore block in the Herodotus basin, offshore Egypt in the Mediterranean.
This 4,550-sq km block extends 5-150 km from shore with water depths of 50-3,200 metres.
The basin is an underexplored area and the agreement includes a 3D seismic campaign during the first three years.
Total is operator of the consortium with 35%. Shell holds 30%, KUFPEC holds 25%, and Tharwa holds 10%.
Source: Oil & Gas Journal