Total : Partners Get Offshore Block Exploration Permit in Egypt

By Olivia Bugault

A consortium led by Total SE has signed an exploration and production agreement with the Egyptian Natural Gas Holding Co. for an offshore block in the Mediterranean Sea, the French oil-and-gas major said Monday.

The North Ras Kanayis offshore block located in the Herodotus Basin in Egypt covers an area of 4,550 square kilometers, with water depths ranging from 50 to 3,200 meters, Total said.

Total, the operator, leads the consortium with a 35% interest, while Royal Dutch Shell PLC has a 30% working interest, Kuwait Foreign Petroleum Exploration Co. holds 25% and Egypt's Tharwa has 10%, it said.

Write to Olivia Bugault at [e-mail]

(END) Dow Jones Newswires

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