TotalEnergies and Eni have completed the transfer to QatarEnergy of a 30% interest in exploration Blocks 4 and 9 off the coast of Lebanon.
The agreements were endorsed in Beirut on January 29, during a ceremony attended by Walid Fayad, the Minister of Energy and Water of Lebanon; Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and president and CEO of QatarEnergy; Patrick Pouyanné, chairman and CEO of TotalEnergies; and Claudio Descalzi, CEO of Eni.
TotalEnergies, the operator, and Eni will each retain a 35% interest in the blocks with QatarEnergy holding the remaining 30%.
“We are very pleased to welcome QatarEnergy in our exploration acreage in Lebanon. The recent delineation of Lebanon’s maritime border with Israel has created a new momentum for the exploration of its hydrocarbon potential. Along with our partners, we are committed to drilling as soon as possible an exploration well in Block 9, and our teams are mobilised to conduct these operations,” said Pouyanné.
This new partnership further expands the cooperation between TotalEnergies and QatarEnergy in exploration activities, and brings to nine the number of countries where the two companies have partnerships.