TotalEnergies and Eni have completed the transfer to QatarEnergy of a 30 per cent interest in exploration Blocks 4 and 9 off the coast of Lebanon.

The agreements were endorsed in Beirut on 29 January, during a ceremony attended by His Excellency Dr. Walid Fayad, the Minister of Energy and Water of Lebanon; His Excellency Mr. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy; Mr. Patrick Pouyanné, Chairman and CEO of TotalEnergies; and Mr. Claudio Descalzi, CEO of Eni.

Pursuant to the terms of the agreements, TotalEnergies (operator) and Eni will each retain a 35 per cent interest in the blocks with QatarEnergy holding the remaining 30 per cent.

Patrick Pouyanné, Chairman and CEO of TotalEnergies said they are very pleased to welcome QatarEnergy in their exploration acreage in Lebanon.

“The recent delineation of Lebanon’s maritime border with Israel has created a new momentum for the exploration of its hydrocarbon potential.

“Along with our partners, we are committed to drilling as soon as possible in 2023 an exploration well in Block 9, and our teams are mobilised to conduct these operations.”

This new partnership further expands the cooperation between TotalEnergies and QatarEnergy in exploration activities, and brings the number of countries where the two companies have partnerships to nine.