Lebanon readies for landmark exploration well

Lebanon

BEIRUT, August 24, 2023 – TotalEnergies and its partners are set to begin oil and gas exploration activities on Block 9 in Lebanon, Reuters reported on Tuesday.

Drilling will be performed by the Transocean Barents rig built in 2009.

According to Minister of Energy and Water Walid Fayyad, results of the drilling are expected to be ready in 67 days following activity beginning on Thursday.

Block 9 is located 80 kilometres off the shore of southern Lebanon and covers a total area of 1,750 square kilometres in water depths of around 1,700 metres.

In January 2023, QatarEnergy took on a 30% share of the concession, with Eni taking 35% stake and TotalEnergies taking the remaining 35% operating stake.

The consortium has expressed interest in further drilling activities on nearby concessions.