Lebanon approves offshore plan
Lebanon Eni Cyprus
The consortium between the French, Italian and Russian companies signed its PSAs for offshore blocks 4 and 9 in February. While part of Block 9 is in an area disputed by Israel, the companies will not drill there, Reuters reported.
The licence stipulates that exploration is to take place within three years, with the first well projected to be drilled there next year. Lebanon is also planning a second offshore bid round in late 2018 or early 2019, the report added.
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