On 31 December 2019, ExxonMobil was granted with a new exploration acreage, the North Marakia Offshore block, located approximately eight kilometers offshore Egyptâs northern coast in the Herodotus Basin.  This block, which covers an area of 4,850 sq km is the second acreage granted to ExxonMobil after the North East El Amriya Offshore block, in the Nile Delta.  The North East El Amriya Offshore block, which is of 2,197 sq km was awarded to ExxonMobil in 2019 as a result of the Egyptian Natural Gas Holding (EGAS) bid round. At this time, EGAS said ExxonMobil had provided a financial commitment of USD 220 million, with a plan to drill four wells and a signature bonus of USD 10 million.    ExxonMobil will operate both blocks with a 100% interest. Operations, including acquisition of seismic data, are scheduled to begin in 2020.
ExxonMobil was granted with a new exploration acreage, the North Marakia Offshore block, located approximately eight kilometers offshore Egyptâs northern coast in the Herodotus Basin.