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 Sea.

This 4,550-sq km block extends 5-150 km from shore with water depths of 50-3,200 m. The basin is an underexplored area and the agreement includes a 3D seismic campaign during the first 3 years.

Total is operator of the consortium with 35%. Shell holds 30%, KUFPEC holds 25%, and Tharwa holds 10%.