North Rafah spans nearly 3,000 square kilometers (1,158.31 square miles) in the Mediterranean Sea off the northeastern coast of Egypt, QatarEnergy noted. The block has a water depth of up to 450 meters (1,476.38 feet), it said.
Greece, which currently produces only small volumes of oil, is working to expand domestic natural gas resources to reduce reliance on imports. While renewables have increased in recent years, gas remains critical to the country’s power generation mix. The exploration push also aligns with the European Union’s strategy to diversify supply and reduce dependence on Russian energy following the invasion of Ukraine.
Equinor ASA has secured new exploration acreage offshore Brazil in the Santos Basin, awarded under the country’s fifth Open Permanent Concession bidding.