LBCI

Total Energies contracts Transocean to drill first well in Lebanon's block 9

News Bulletin Reports

06-04-2023 | 08:45

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Total Energies contracts Transocean to drill first well in Lebanon's block 9

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Total Energies has informed the Energy Ministry and the Petroleum Sector Administration that it has contracted Transocean to bring a drilling rig to Lebanon to drill the first well in Block 9.

The drilling rig, which is expected to arrive in Lebanon and begin drilling between September and December of this year, is a self-propelled platform currently operating in the North Sea with Total Energies as well.

The contract estimates that the drilling rig will operate for 67 days at a cost of $365,000 per day, making the total cost of the contract for working days $25.58 million.

The contract also includes the cost of sailing the rig to the drilling site, including fuel costs of $6.24 million, as well as the cost of departing Lebanon and returning to the North Sea at $6.24 million.

In addition, 10 percent of these amounts will be allocated for emergencies, bringing the total value of the contract to $41.29 million, to be paid by Total Energies.

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