BEIRUT, Lebanon — Lebanon’s government on Friday signed a deal with an international consortium to explore gas in an offshore area bordering Israel.
The deal for exploration at the so-called Block 8 off the coast of southern Lebanon comes after Lebanon and Israel signed a 2022 agreement over their maritime border. The new deal is the latest to be granted by Lebanon to international companies to search for gas in its territorial waters.
Cash-strapped Lebanon hopes that future gas discoveries will help the small Mideast nation pull itself out of the worst economic and financial crisis in its modern history.
The deal was signed at the government’s headquarters in downtown Beirut by Energy Minister Joe Saddi from the Lebanese side and officials from the international consortium consisting of France’s TotalEnergies, Italy’s ENI, and state-owned oil and gas company Qatar Energy.
TotalEnergies said in a statement that the consortium plans to start with a 1,200-square-kilometer (463 square mile) 3D seismic survey to assess the area’s exploration potential.
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In 2017, Lebanon approved licenses for France’s TotalEnergies, Italy’s ENI, and Russia’s Novatek to move forward with offshore oil and gas development for two of 10 blocks in the Mediterranean Sea, including one that was at the time in a disputed part with neighboring Israel.
A Lebanese navy patrol boat sails in the Mediterranean sea waters on its side of the maritime border off of Lebanon’s southern coast near Rosh HaNikra in northern Israel on October 27, 2022 (JACK GUEZ / AFP)
The companies did not find viable amounts of oil and gas in one of the blocks north of Beirut, and drilling in another in the south was repeatedly postponed because of the maritime border dispute with Israel. Lebanon and Israel later signed a deal over their maritime border in 2022.
In August 2023, an offshore drilling rig began operations in the Mediterranean Sea off Lebanon’s coast.
That did not give positive results, but Patrick Pouyanné, Chairman and CEO of TotalEnergies, said in a statement that they will keep trying in other areas.
“We remain committed to pursue our exploration activities in Lebanon,” said Pouyanné. ” We will now focus our efforts on Block 8, together with our partners Eni and QatarEnergy and in close cooperation with Lebanese authorities.”
In January 2023, Lebanon, ENI, TotalEnergies, and state-owned oil and gas company Qatar Energy signed an agreement in which the Qatari firm replaced Novatek. Under the deal, Qatar Energy would take Novatek’s 20 percent stake in addition to 5% each from ENI and TotalEnergies, leaving the Arab company with a total stake of 30%. TotalEnergies and ENI will each have 35% stakes.
Times of Israel staff contributed to this report.
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