Overview
- Lebanon signed the exploration agreement for offshore Block 8 with TotalEnergies, Eni and QatarEnergy in Beirut on January 9.
- TotalEnergies will operate the block with a 35% stake, with Eni holding 35% and QatarEnergy 30%.
- The partners’ initial work program centers on acquiring a 1,200 km2 3D seismic survey to inform any future drilling decisions.
- TotalEnergies CEO Patrick Pouyanné said the focus shifts to Block 8 after the Qana well on Block 9 returned negative results.
- Officials tout offshore resources as a possible relief for Lebanon’s economic crisis, though no discovery has been announced and development remains uncertain.