Heavily invested in the Mediterranean Sea’s Block 9, TotalEnergies has now signed a deal with the Lebanese government to add the neighbouring Block 8 to its exploration activities schedule.
Commenting on the new agreement via the official Total website, Patrick Pouyanné, chief executive, said that while drilling at Block 9 had not yielded positive results, the Paris-headquartered company was committed to continue exploring oil and gas potential in Lebanon.
With a presence in between 120 and 130 countries, TotalEnergies is an international company. It also supplies advanced lubricant products for a wide range of sectors and applications including high-quality gear oil and hydraulic fluid, along with other solutions.
Block 8 is situated in the vicinity of the maritime border between Lebanon and Israel. It is positioned around 70 kilometres off Lebanon’s south coast in waters of almost 7,000 feet deep. Under the agreement, as operator, TotalEnergies will own 35 per cent of the block, while Italy’s state funded Eni Spa will hold 35 per cent and QatarEnergy the final 30 per cent.
According to TotalEnergies, early work at Block 8 will include carrying out a 3D seismic survey covering 1,200 square kilometres to assess the location’s exploration potential.
Under contact with TotalEnergies, Transocean Ltd commenced drilling at Block 9 approximately three years ago. When Israel and Lebanon consented to delineate the maritime border they shared, TotalEnergies initiated exploration activities. The two neighbouring countries are unable to undertake exploration of hydrocarbon assets at Block 9 themselves, due to a treaty brokered with the US that was signed in 2022.
