03:22 PM EDT, 05/13/2024 (MT Newswires) -- Exxon Mobil ( XOM ) has signed a farm-in agreement allowing QatarEnergy to acquire a 40% participating interest in the Cairo and Masry exploration blocks offshore Egypt.

The two exploration blocks cover around 11,400 square kilometers under 2,000 to 3,000 meters of water in the Mediterranean Sea and were awarded in January 2023 to Exxon Mobil ( XOM ), which will retain a 60% stake in the project.

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