Beirut: QatarEnergy has entered into an agreement with the Lebanese government, TotalEnergies, and Eni for a stake in an exploration block offshore Lebanon. The agreement marks QatarEnergy's acquisition of a 30% interest in Block 8, with TotalEnergies, the operator, and Eni each retaining a 35% share.

According to Qatar News Agency, HE Minister of State for Energy Affairs Saad Sherida Al Kaabi, also the President and CEO of QatarEnergy, expressed satisfaction with the acquisition. He emphasized the opportunity it presents to contribute to the development of Lebanon's upstream oil and gas sector, underscoring Qatar's commitment to supporting Lebanon and its citizens.

HE Al Kaabi extended gratitude to Lebanese Minister of Energy and Water, Joseph Saddi, for his support in reaching this milestone. He highlighted the anticipation of continued collaboration with strategic partners TotalEnergies and Eni to ensure a successful outcome for the project.

Block 8 is situated approximately 70 kilometers off Lebanon's southern coast, with water depths ranging from 1700 to 2100 meters.

Source: Qatar News Agency