Australia’s Woodside this month took a 40% stake in the giant Tiba exploration block in Egypt’s Mediterranean offshore the Nile Delta from operator Eni (60%), the LNG-focused firm reveals in its Q3 results on 16 October.
Eni was awarded the Tiba block in 2023 following a 2022 Egas bid round, cementing its dominance in Egypt’s offshore Mediterranean (MEES, 6 January 2023). Woodside on the other hand only entered Egypt in April last year when it took non-operator stakes in five frontier blocks, three operated by US major Chevron and two by UK major Shell (MEES, 28 April 2023). (CONTINUED - 185 WORDS)
