TotalEnergies expects to begin drilling offshore Lebanon “as soon as possible in 2023,” the company said following a farmout deal with Eni SPA and QatarEnergy.
TotalEnergies, operator of exploration Blocks 3 and 9 offshore Lebanon, and block partner Eni signed a deal whereby QatarEnergy will acquire 30% interest in the blocks.
The operator plans to begin drilling in Block 9 this year, said Patrick Pouyanné, TotalEnergies chairman and chief executive officer, in a release Jan. 29, noting that the company has teams “mobilized to conduct these operations.”
The decision to move ahead with drilling comes after a maritime boundary decision was reached between Israel and Lebanon on Oct. 27, 2022 (OGJ Online, Dec. 12, 2022).
The purchase and sales agreements were endorsed in Beirut on Jan. 29, 2022. Pursuant to the terms of the agreements, TotalEnergies (operator) and Eni will each retain 35% interest in the blocks.
About the Author
Alex Procyk
Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).