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QatarEnergy has won an offshore exploration licence in Libya following the conclusion of the ‘Libya Bid Round’, marking QatarEnergy’s first entry into the country’s upstream sector.The results of the competitive bid process, the first to be held in Libya since 2007, were announced Wednesday by the National Oil Corporation (NOC), awarding the exploration and production rights for offshore block O1 to a consortium of QatarEnergy (40% participating interest) and Eni (the operator, 60% participating interest).His Excellency the Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi, who is also President and CEO of QatarEnergy, said: “We are pleased to be awarded this exploration block and enthusiastic about the prospects of Libya’s offshore upstream sector and about expanding our upstream footprint in North Africa.“I would like to take this opportunity to thank and congratulate the Libyan authorities on the success of this bid round. We look forward to a collaborative and productive relationship, working alongside the Libyan authorities and Eni to deliver a successful exploration programme.”Located in the offshore Sirte Basin, block O1 covers an area of approximately 29,000km² in water depths of up to 2,000m. 

QatarEnergy has signed a production sharing agreement for shallow-water Block S4 offshore the Cooperative Republic of Guyana. The block was awarded through the 2022 Guyana Licensing Round.Under the terms of the agreement, QatarEnergy will hold a 35% share, while its partners TotalEnergies (the operator) will hold 40%, and Petronas will hold 25%. Commenting on this agreement, His Excellency the Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi, who is also the President and CEO of QatarEnergy, said: “We are pleased to secure this exploration block in Guyana, further building on the strategy to expand our global upstream exploration activities.” He added: “I would like to thank the Government of the Co-operative Republic of Guyana and our partners in the block for their valued support and co-operation.We look forward to working together to deliver on our exploration objectives.” Block S4 covers an area of 1,788sq km and is situated approximately 50-100km from Guyana’s coast, in water depths of 30-100m.

QatarEnergy has completed a farm-in transaction with Eni, acquiring a 40% participating interest in the North Rafah exploration block, offshore Egypt.The agreement, recently approved by the Government of Egypt, grants QatarEnergy a 40% stake in the offshore concession, with Eni (the Operator) retaining the remaining 60% interest.Commenting on this agreement, His Excellency the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, who is also the President and CEO of QatarEnergy, said: “We are pleased with our new position in the North Rafah offshore block, which further strengthens our presence in Egypt and marks another important step in advancing our ambitious international exploration strategy.”Minister al-Kaabi added: “We extend our thanks to the Ministry of Petroleum and Natural Mineral Resources in Egypt, and our partner Eni for their valued support and cooperation. We look forward to working together to achieve our exploration objectives.”The North Rafah offshore block is located in the Mediterranean Sea, off the northeastern coast of Egypt.It spans nearly 3,000 square kilometers in water depths of up to 450 meters.