Lebanon.. Total Energies commits to start gas exploration next year | Economy

TotalEnergies said it will begin drilling for gas as part of its Block 9 offshore gas project in Lebanon starting next year.

He added that he has placed orders with suppliers for the required equipment and will be selecting the supplier for a new rig, most likely in the first quarter of next year.

And the French oil company – last October – reached an agreement with the Lebanese government on the fate of the gas field, with the entry into force of an agreement on the maritime border with Israel.

“The teams responsible for drilling operations in Block 9 are now being mobilized,” said Patrick Pouyanne, President and CEO of Total Energies. Lebanese territorial waters bordering Israel,” the company said in a statement.

In Lebanon, Total Energies operates Exploration Block 9 and holds 60% of the development shares, together with its Italian partner, Eni, which holds 40% of the shares.

Lebanon and Israel have engaged in two-year indirect negotiations, brokered by the United States, regarding the delimitation of borders in an area rich in oil and natural gas in the Mediterranean, with an area of ​​860 square kilometers.

Areas off the eastern coast of the Mediterranean have seen significant gas reserves discovered in the last decade. Interest in these areas has increased since the Russo-Ukrainian war disrupted the flows.