TotalEnergies receives new exploration permit off the coast of Lebanon
TotalEnergies, a French oil company, said Friday that it had 'obtained approval from the government for a new permit to explore offshore Lebanon.
Total, who owns 35% of the operating stake, will start 3D seismic surveys in Block 8? with partners Eni (35%), and QatarEnergy 30%.
In late 2022 the French company began searching for?natural gases in Lebanon, after the landmark agreement between the government and Israel to establish a maritime border in the Mediterranean Sea. Initial exploration on an adjacent block proved disappointing.
TotalEnergies CEO Patrick Pouyanne stated that "despite the fact that the drilling of the well Qana 31/1 on Block 9 failed to yield positive results, TotalEnergies remained committed in its exploration activities in Lebanon."
Block 8 is the first block to be explored. It covers a total area of?1,200 square kilometers (463 sq miles).
Gaby Daaboul, President of the Lebanese Petroleum Administration said that Lebanon was aiming to increase?exploration to achieve a commercial find to boost its economy and support sustainable development.
Energy Minister Joseph Saddi stated that Lebanon is working on its fourth licensing round for exploration and will propose changes to the terms in a month's time to attract more bidders.
Israel and Cyprus are already making major discoveries of offshore gas in the eastern Mediterranean. These include the Leviathan field and the Aphrodite field, which highlight the potential for the region. Reporting by America Hernandez from Paris and Maya Gebeily from Beirut. Mark Potter and Jane Merriman edited the article.
(source: Reuters)
