Mubasher: Kuwait Petroleum Exploration Company (KUFPEC) signed an exploration and production agreement with the Egyptian Natural Gas Company (EGAS) in the offshore Ras Kanayes of Herodotus Basin in the West Mediterranean concession, Kuwait News Agency (KUNA) reported on Tuesday.

KUFPEC holds a 25% interest in the West Mediterranean concession, while Total, the main operator of the project, Shell, and the Egyptian National Oil Company have stakes of 35%, 30%, and 10%, respectively.

The block spans over an area of 4,550 square kilometres (sq.km), extending from five to 150 km from the shore, with water depths ranging from 50 to 3,200 metres.