Lebanon has embarked on a new phase of oil and gas exploration, by granting a license for 3D seismic surveying in Block 8, located near its borders with Israel.
This move coincides with the commencement of drilling operations in Block 9, following the arrival of the drilling vessel “Trans Ocean” in Lebanese waters. It is hoped that, by the end of the year, hydrocarbon reserves will be identified.
On Thursday, 24th August 2023, Lebanon’s acting Energy Minister, Walid Fayad, announced the grant of exploration licenses to companies “BrightSkies” and “GeoEx” for a 3D seismic survey in Block 8. This initiative aims to collect and analyze data to then present and market to global corporations, as reported by an energy-focused platform.
**Lebanon on the Mediterranean Oil Map**
Fayad expressed, “This marks a historic day in a journey that began in 2010, when the Energy Ministry aimed to position Lebanon on the Mediterranean oil and gas map.”
Recalling significant milestones, the Energy Minister mentioned the foundation laid in 2010 by the then-minister, who established necessary legislation and decrees with the help of an expert team. Fayad acknowledged a significant gap in 2018 due to political crises which delayed agreements, causing setbacks in their progress.
On a positive note, licenses were granted for exploration, with contracts signed with international partners like Total Energy and Eni. Later on, Qatar Energy joined the ventures, marking the launch of exploration activities.
In February 2018, Lebanon signed its first offshore oil and gas exploration contract for Blocks 9 and 4 with an alliance comprising energy giants Total, Eni, and Novatek. Approximately two years later, in April 2020, Lebanon announced initial drilling in Block 4 showing traces of gas. However, the reserves weren’t commercially viable. Exploration in Block 9 was halted due to a portion lying in disputed territory with Israel.
Following the signing of the maritime boundary agreement with Israel, Total Energy mobilized to start drilling operations, recently heralded by the arrival of the “Trans Ocean” drilling vessel.
Fayad commented on the landmark 2022 demarcation, attributing its success to determined leadership and unified efforts. He noted, “The global context also favored this achievement, as the demand for gas surged worldwide.”
