Hommam Al Nassim 
Qatar Energy Company has announced that it has acquired a 40% stake in two gas exploration areas in Egypt under an agreement with US multinational ExxonMobil.
Qatar Energy will begin its gas exploration journey in Egypt by announcing the acquisition of a 40% stake in the offshore areas of Cairo and Masri, according to an official company statement.
The company has pledged to collaborate closely with its partner EGAS, as well as the Egyptian Ministry of Petroleum and Mineral Resources in exploring this promising investment zone.
It is worth noting that the Cairo and Masri exploration areas were awarded to ExxonMobil in January 2023, and the areas cover an area of about 11,400 square kilometers in waters ranging from 2,000 to 3,000 meters deep.
The announcement comes in the context of strengthening economic ties between Cairo and Doha, as the two countries resumed diplomatic relations in 2021 after a break of several years.
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