Lebanon: QatarEnergy joins TotalEnergies and Eni on two exploration blocks

Published by Emily Thomas, Deputy Editor
Oilfield Technology, Monday, 30 January 2023 11:57

TotalEnergies and Eni have completed the transfer to QatarEnergy of a 30% interest in exploration Blocks 4 and 9 off the coast of Lebanon.

The agreements were endorsed in Beirut on 29 January, during a ceremony attended by Dr. Walid Fayad, the Minister of Energy and Water of Lebanon; Mr. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy; Mr. Patrick Pouyanné, Chairman and CEO of TotalEnergies; and Mr. Claudio Descalzi, CEO of Eni.

Pursuant to the terms of the agreements, TotalEnergies (operator) and Eni will each retain a 35% interest in the blocks with QatarEnergy holding the remaining 30%.

“We are very pleased to welcome QatarEnergy in our exploration acreage in Lebanon. The recent delineation of Lebanon’s maritime border with Israel has created a new momentum for the exploration of its hydrocarbon potential. Along with our partners, we are committed to drilling as soon as possible in 2023 an exploration well in Block 9, and our teams are mobilised to conduct these operations”, said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

This new partnership further expands the cooperation between TotalEnergies and QatarEnergy in exploration activities, and brings to nine the number of countries where the two companies have partnerships.

Read the article online at: https://www.oilfieldtechnology.com/exploration/30012023/lebanon-qatarenergy-joins-totalenergies-and-eni-on-two-exploration-blocks/