QatarEnergy, TotalEnergies, Eni Signs Historic Lebanon Deal

Production Jan 31, 2023 0 536 Add to Reading List

Signed in Beirut on Sunday 29th of January, between the three parties - France's TotalEnergies and Italy's Eni have completed the transfer to QatarEnergy - of a 30% interest in exploration Blocks 4 and 9, off the coast of Lebanon.

Pursuant to the terms of the agreements, TotalEnergies (operator) and Eni will each retain a 35% totalling 70% interest in the blocks, with QatarEnergy holding the remaining 30%.

Patrick Pouyanné, Chairman and CEO of TotalEnergies confirmed "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 mobilized to conduct these operations."

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

State-owned firm, QatarEnergy marked its first exploration endeavour in Lebanon with the completion of this agreement.