Much of Chevron’s focus in the East Mediterranean since its $5bn takeover of compatriot Noble last year has been its operations in Israel, as gas output from its two operated fields, 10.5tcf Tamar and 22.7tcf Leviathan, ramped-up to a record 2.14bn cfd for Q3 (MEES, 26 November).
But the major is also looking to kick-start exploration on four Egyptian blocks acquired in 2019 and 2020 and has opened a data room in a bid to attract farm-in partners as it looks to cut its spending commitments amid plans to keep overall capex tight (MEES, 3 December). Stakes in the Sidi Barrani and El Dabaa blocks in the unexplored West Mediterranean region and Narges north of the Sinai peninsula are up for grabs (see map). Chevron has a 90% stake in each alongside state firm Tharwa which holds the remaining 10%. (CONTINUED - 1244 WORDS)