The minister confirmed that oil and gas exploration work off the coast of Lebanon is expected to start in September, and said they will know by the end of the year if there are any discoveries.
In October last year, the French oil and gas company Total Energies reached an agreement with the Lebanese government regarding the fate of the gas field, with the entry into force of a historic agreement on the maritime border with Israel, and the company said at the time that it would work to start exploration for its offshore gas project in Block 9 in Lebanon from 2023.
At the end of January, an amendment to the current agreements was signed, with Qatar Energy entering as the main partner in oil and gas exploration operations in Lebanon, alongside the Italian company Eni and the French Total Energies, after the Russian company Novatek left the country The coalition because of Western sanctions.
As part of this agreement, Qatar Energy acquired 30% of the exploration rights in offshore blocks 4 and 9, off the coast of Lebanon, while the remaining 35% was shared by Italy’s Eni and 35% by the French Total.
Lebanon is highly dependent on exploration operations and their expected revenues to cope with its economic crisis.
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