Prime Minister Najib Mikati affirmed that “the entry of Qatar Energy Company and its acquisition of 30 percent of the exploration and production agreements in Blocks 4 and 9 constitutes an important and exceptional event in the oil exploration and production sector in Lebanese marine waters, due to Qatar Energy’s prestigious position and experience globally.” In the gas industry, the operator “Total Energy Company”, which owns a 35 percent stake, in addition to the “Eni Company”, which owns a 35 percent stake, will start drilling in Block 9 after completing environmental surveys and contracts related to drilling and launching logistical activities from the port of Beirut. .
In his speech during the signing ceremony of the exploration and production agreements in Blocks 4 and 9, Mikati stressed that “the start of the process of exploration and petroleum activities will have a positive impact in the short and medium term on creating opportunities for Lebanese companies interested in the services sector in the field of petroleum, and it will provide job opportunities for Lebanese youth, especially for workers.” In the technical field, and in the event that commercial quantities are discovered, this discovery will be developed at the required speed and supply the Lebanese market, especially the power plants, with natural gas, which will contribute to the growth of the local economy.
And he considered that “the consortium of companies operating in Blocks 4 and 9 will contribute to advancing investments in the energy sector in Lebanon, which is a long-term investment that the Lebanese state will support with rational governance and absolute transparency.”
He believed that “the consortium of these world-renowned companies enhances investment confidence in Lebanon, despite the difficult circumstances it is going through, and puts Lebanon in the future on the oil map in the Levantine basin of the Mediterranean. Lebanon’s geographical location will enable it to play a pivotal role in addition to friendly countries.” In the region to supply gas to Europe, it also encourages international companies to participate in the second licensing round for offshore blocks offered for bidding. He stressed that “Qatari investment in the energy sector constitutes a strategic partnership between Lebanon and the sisterly State of Qatar and paves the way in the future for Arab and Gulf investments in particular, for the benefit of Lebanon and its Arab brothers.”
