Total Wins Egyptian Offshore E&P LIcence
French Total has become operator and 35% partner in a 4,550-km² offshore exploration block in Egypt, it said January 4. Its partners are Anglo-Dutch major Shell (30%), Kuwaiti Kufpec (25%) and Egyptian Tharwa (10%). The agreement was signed with the Egyptian Natural Gas Holding Company and covers the North Ras Kanayis block in the Herodotus Basin in the Mediterranean.
The exploration extends from 5 to 150 km from the shore and water depths range from 50 m to 3,200 m. The Herodotus Basin is an under-explored area and the partners' commitment includes a 3D seismic campaign during the first three years.
‘Total is pleased to further strengthen its eastern Mediterranean position as an operator of this exploration and production agreement,’’ it said, adding that gas was found offshore last July with the Bashrush well on the North El Hammad licence, to be developed through a tie-in to nearby existing infrastructure. Total holds a working interest of 25% in the North El Hammad licence, alongside operator Eni (37.5%) and the UK major BP (37.5%).