BEIRUT, Dec 14 (NNN-NNA) – Lebanese Energy Minister, Nada Boustani, announced that, she granted Total the license to drill Lebanon’s first well, in block 4 of the country’s water territories.
“The launch of this license and handing it over to the consortium of Total, Eni and Novatek, is the first step in the discovery of potential oil and gas reserves in Lebanon,” Boustani said, during a press conference.
Boustani said that the vessel that will work on the drilling process will arrive from Egypt in Jan.
“The drilling process will take two months, while we will need additional two months, to verify if the discovered material is commercial or not,” she said.
In Feb, 2018, Lebanon signed its first offshore oil and gas exploration and production contracts, for two energy blocks with a consortium of France’s Total, Italy’s Eni and Russia’s Novatek.
In Apr, Boustani announced the launch of Lebanon’s second licensing round for offshore oil and gas exploration in five blocks, saying, the deadline for submitting offers is Jan, 2020.
Lebanon hopes to give a big boost to its economy through offshore energy discovery.– NNN-NNA