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TotalEnergies: Committed to start Lebanon drilling next year

TotalEnergies: Committed to start Lebanon drilling next year

The logo of the French group TotalEnergies in Paris. (Credit: Christophe Archambault/AFP file)

PARIS — French energy giant TotalEnergies said Monday it was working towards exploiting its new Lebanon Block 9 offshore gas project from next year, adding that it would likely select the vendor for a new drilling rig in the first quarter of 2023.

"Pre-orders have also been placed with suppliers for equipment required," the company added in a statement.

Total said its chief executive and chairman Patrick Pouyanné had confirmed these objectives when he recently met with Lebanon's caretaker Energy Minister Walid Fayad at the firm's Paris headquarters.

In October, the French oil and gas company reached a deal with the Lebanese government on the fate of the gas field as a landmark maritime border agreement with Israel was coming into force.

Read more:

Maritime border: The complete text of the agreement between Lebanon and Israel

Offshore areas in the eastern Mediterranean and Levant have yielded major gas discoveries in the past decade. Interest in them has grown since Russia's invasion of Ukraine disrupted flows.

The initial exploration license for Block 9 was held by a consortium of TotalEnergies, Italy's Eni and Russia's Novatek, but the deal had been restructured after Novatek exited the group as a result of the war in Ukraine.

PARIS — French energy giant TotalEnergies said Monday it was working towards exploiting its new Lebanon Block 9 offshore gas project from next year, adding that it would likely select the vendor for a new drilling rig in the first quarter of 2023."Pre-orders have also been placed with suppliers for equipment required," the company added in a statement.Total said its chief executive and chairman...