EMC 2021 . 2021 SEPT 14-16 . NICOSIA
25/FEB/2020 - 17:57
Beirut (AFP)
A drillship anchored off Lebanon Tuesday to explore for oil and gas, an energy firm and the government said, raising hopes for a future boost to the country's crumbling economy.
Information Minister Manal Abdel Samad said the first ever such exploration would start within 48 hours.
The Tungsten Explorer was to start drilling in its first exploration well situated some 30 kilometres (16 nautical miles) offshore from Beirut, French oil firm Total said.
"Total is pleased to start exploration operations on block 4, which is the first deepwater exploration well in Lebanon," Total's Lebanon chief Ricardo Darre said.
Anticipation has been high in Lebanon for exploration to start, with many hoping a major hydrocarbon discovery could help redress the debt-burdened economy.
Energy Minister Raymond Ghajar said on Twitter the ship had anchored in block 4.
DEC/14/2017DANA KHRAICHE
BEIRUT (Bloomberg) -- Lebanon granted its first offshore energy rights to a group comprising Total SA, Eni SpA and Novatek PJSC, joining a regional race to find and develop oil and natural gas wealth in the eastern Mediterranean after years of delay.
The cabinet awarded two licenses in its first offshore bidding round, allowing the companies to jointly explore Blocks 4 and 9, Wissam Chbat, a member of the Lebanese Petroleum Administration, said Thursday by phone. The group has one month to prepare legal, administrative and technical paperwork before signing production-sharing contracts with the government in January, Chbat said. Drilling is expected to begin in 2019, he said.
France’s Total, Italy’s Eni and Russia’s Novatek filed their bids to explore the two blocks in October -- the only proposals the government received. The licensing round has encountered setbacks since 2013 amid political disputes over block delineation and government paralysis, leaving Lebanon trailing Cyprus, Egypt and Israel in exploring the eastern Mediterranean. This year bidding was pushed back to give companies more time to understand a new tax law.
