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% of Block 8, while TotalEnergies (the operator) and Eni will each hold 35%.
Commenting on this agreement, His Excellency Mr. Saad Sherida 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.”
His Excellency Minister Al-Kaabi added: “I would like to thank His Excellency Mr. 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.
