Total-led consortium enters Lebanon with two deepwater E&P contracts
MILAN and PARIS -- Total-led international consortium (Total 40%, ENI 40%, Novatek 20%) signed two Exploration and Production Agreements (EPA) with the Republic of Lebanon, covering Blocks 4 and 9, located in the deep waters offshore Lebanon. The agreements are the result of the first International Competitive Offshore Licensing Round launched by Lebanese Petroleum Authority.
The agreements open the way for the exploration of the Offshore of Lebanon and further strengthen the Company’s presence in the Eastern Mediterranean.
The consortium's priority will be to drill a first exploration well on Block 4 in 2019.
As for Block 9, Total and its partners are fully aware of the Israeli-Lebanese border dispute in the southern part of the block that covers only very limited area (less than 8% of the block’s surface). Given that, the main prospects are located more than 25km from the disputed area, the consortium confirms that the exploration well on Block 9 will have no interference at all with any fields or prospects located south of the border area.
The blocks were awarded to the consortium of Total (operator, 40%), ENI (40%) and Novatek (20%) in the frame of the 1st offshore licensing round, launched by the Lebanese government in January 2017.
