QatarEnergy to acquire two new exploration blocks offshore Egypt

QatarEnergy has signed a farm-in agreement with ExxonMobil to acquire a 40% participating interest in two exploration blocks offshore Egypt.

Under the terms of the agreement, which is subject to customary approvals by the
government of Egypt, QatarEnergy will acquire a 40% working interest in each of the
“Cairo” and “Masry” Offshore Concession Agreements, while ExxonMobil (the
Operator) will retain the remaining 60% working interest.

Commenting on the signing of this agreement, His Excellency Mr. Saad Sherida Al-
Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy
said: “I am pleased with our entry into the Cairo and Masry offshore exploration blocks
as they expand QatarEnergy’s presence in the Arab Republic of Egypt and extend our
ambitious exploration program in-country.”

His Excellency Minister Al-Kaabi added: “We look forward to working with our valued
long-term strategic partner ExxonMobil, as well as with the Egyptian Natural Gas
Holding Company (EGAS) and the Egyptian Ministry of Petroleum and Mineral
Resources, in this promising and prospective region. I would like to take this
opportunity to thank the Egyptian authorities and our partners for their valuable support
and cooperation.”

The Cairo and Masry offshore exploration blocks were awarded to ExxonMobil in
January 2023 and cover an area of approximately 11,400 square kilometres in water
depths of 2,000 to 3,000 meters.