QatarEnergy, an integrated energy company responsible for the development of cleaner energy resources as part of the energy transition in Qatar, has signed an agreement with the Lebanese government, TotalEnergies, and Eni to enter into an exploration block offshore Lebanon.
Under the terms of the agreements, QatarEnergy will acquire 30 percent of Block 8, while TotalEnergies (the operator) and Eni will each hold 35 percent.
HE Saad Sherida Al-Kaabi Minister of State Energy Affairs, President and CEO, QatarEnergy
“We are pleased to secure this exploration block, which allows us to support the development of Lebanon’s upstream oil and gas sector reflecting and reaffirming the State of Qatar’s ongoing commitment towards a brighter future for Lebanon and its people. I would like to thank His Excellency Joseph Saddi, the Minister of Energy and Water of Lebanon, and his team for their support, which led to this milestone. We look forward to continue working with them and with our strategic partners TotalEnergies and Eni and to achieve a successful and promising outcome.”
Block 8 is located about 70 kilometers off the southern coast of Lebanon in water depths of approximately 1700-2100 meters. The consortium’s initial work program for Block 8 consists of acquiring a 1,200 km² 3D seismic survey to further assess the area’s exploration potential.
“Although the drilling of the Qana well on Block 9 did not give positive results, we remain committed to pursue our exploration activities in Lebanon. We will now focus our efforts on Block 8, together with our partners Eni and QatarEnergy, and in close cooperation with Lebanese authorities,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies.
