QatarEnergy has made its first foray into Egypt’s upstream with stakes in two Shell-operated Red Sea blocks, one in partnership with the UAE’s Mubadala. Will QE now look to expand its Egypt footprint to the gas-rich offshore Mediterranean?

Less than a year-on since Egypt and Qatar re-established relations, the latter’s state energy firm QatarEnergy (QE) has entered Egypt’s upstream, taking minority stakes from Shell in two frontier exploration blocks in the Red Sea. (CONTINUED - 991 WORDS)