The deal marks is Groundstar's second farm-in deal in Egypt and follows the West Kom Ombo farm-in with Australia's Pan Pacific Petroleum Egypt in June.
Groundstar will pay 40% of the cost of the initial three-year exploration work programme to a maximum of $9 million.
WEEM covers 1328 square kilometers in the southern portion of the Gulf of Suez basin.
Five producing oilfields are located on the adjacent south-eastern block, operated by Russia's Lukoil.
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