QatarEnergy 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 per cent of Block 8, while
TotalEnergies (the operator) and Eni will each hold 35 per cent.
Saad Al-Kaabi, the
Minister of State for Energy Affairs, the President and CEO of QatarEnergy,
said: “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.”
Minister Al-Kaabi
added: “I would like to thank 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 km off the southern coast of Lebanon in water depths of approximately
1700-2100 meters. -TradeArabia News Service
