When will Lebanon start extracting oil and gas?

News Bulletin Reports
29-01-2023 | 12:51
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When will Lebanon start extracting oil and gas?
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When will Lebanon start extracting oil and gas?

TotalEnergies CEO Patrick Pouyanné confirmed that the company is keen to start work on Block No. 9 as soon as possible.

The first ship will come next week to conduct the environmental survey, on February 6th, with the company submitting reports by mid-June and then the approval of the Lebanese Petroleum Administration (LPA).

The process of drilling the well will start during the third quarter of this year when the rig is expected to arrive and start work.

Moreover, the work will take three to four months, and drilling the well will cost about 100 million dollars, provided that the drilling results will appear by the end of this year or at the beginning of the following year.

According to information obtained by LBCI, TotalEnergies has informed the Petroleum Sector Authority that it has launched a tender to contract with a drilling rig for gas exploration, noting that there are other tenders related to services and equipment used in drilling.

Thus, the agreement has been put on the track of implementation. But will it encounter any obstacles?
 

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