TotalEnergies on Dec. 12 said it was working towards exploiting its new Lebanon Block 9 offshore gas project from next year, adding that it would likely select the vendor for a new drilling rig in the the first quarter of 2023.
"Pre-orders have also been placed with suppliers for equipment required," the company added in a statement.
Total said its chief executive and chairman Patrick Pouyanné had confirmed these objectives when he recently met with Lebanon's caretaker energy minister, Walid Fayad, at the firm's Paris headquarters.
In October, The French oil and gas major reached a deal with the Lebanese government on the fate of the gas field, as a landmark maritime border agreement with Israel was coming into force.
Offshore areas in the eastern Mediterranean and Levant have yielded major gas discoveries in the past decade. Interest in them has grown since Russia's invasion of Ukraine disrupted flows.
The initial exploration license for Block 9 was held by a consortium of TotalEnergies, Italy's Eni and Russia's Novatek, but the structure of the deal had been restructured after Novatek exited the group as a result of the war in Ukraine.
Recommended Reading
US Drillers Add Oil, Gas Rigs for First Time in Five Weeks
2024-04-19 - The oil and gas rig count, an early indicator of future output, rose by two to 619 in the week to April 19.
Strike Energy Updates 3D Seismic Acquisition in Perth Basin
2024-04-19 - Strike Energy completed its 3D seismic acquisition of Ocean Hill on schedule and under budget, the company said.
Santos’ Pikka Phase 1 in Alaska to Deliver First Oil by 2026
2024-04-18 - Australia's Santos expects first oil to flow from the 80,000 bbl/d Pikka Phase 1 project in Alaska by 2026, diversifying Santos' portfolio and reducing geographic concentration risk.
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
Vår Energi Hits Oil with Ringhorne North
2024-04-17 - Vår Energi’s North Sea discovery de-risks drilling prospects in the area and could be tied back to Balder area infrastructure.