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ECONOMY

French energy company to drill for fuel in Lebanon by 2023

BEIRUT

The French energy company TotalEnergies on Monday said it is committed to drilling for fuel in Lebanon’s Block 9 area by 2023.

The statement was made following a meeting between Lebanese Energy Minister Walid Fayyad and TotalEnergies CEO and chairman Patrick Pouyanné at the French company’s headquarters.

TotalEnergies added that a team consisting of more than 10 people is working and preparing the well, and the working team will increase to 20 by March 2023, where it will pick a winning rig at that time, after announcing the tender including the needed equipment for the rig operation.

TotalEnergies owns 60% of Lebanon’s Block 9 and Eni owns the remaining 40%.

In October, Israel and Lebanon signed a US-mediated deal to demarcate the maritime border between the two countries. The deal covers an area in the Mediterranean Sea, which contains part of the Karish gas field and Qana, a prospective gas field.

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