ExxonMobil may have made a significant gas discovery in Egypt’s Herodotus offshore basin. The Nefertari-1 wildcat well was drilled in mid-December 2024 in the North Marakaia block using Valaris’ 7th generation 12,000-ft drillship, Valaris DS-9, which is under contract until the end of this year. Although the operator has yet to reveal specific details about the discovery, gas-bearing reservoirs were found, and the results are currently under evaluation. ExxonMobil operates the block with a 60% stake, while Qatar Energy holds the remaining 40%.