Total to start oil, gas exploration in Lebanon's territorial water

Source: Xinhua| 2020-02-26 21:25:55|Editor: huaxia

BEIRUT, Feb. 26 (Xinhua) -- Stephane Michel, Total's head of exploration and production in MENA, vowed on Wednesday to start oil and gas exploration in Block 4 in the best and most professional way to ensure safety for people and the environment.

"This is a complicated procedure but it is at the core of our work. Our priority is to do this work in the best possible way for Lebanon and our company because we will invest a lot of money into these operations, believing in the results of our work," Michel was quoted in a statement issued by the Presidency following his meeting with President Michel Aoun at Baabda Palace.

Michel added that he has witnessed the procedures that were adopted to reach the drilling step and they were done in a transparent and effective manner.

Meanwhile, Walid Nasr, chairman of the Lebanese Petroleum Administration (LPA), said that the logistic base at Beirut Port and helicopters at Beirut's airport have become ready to start the drilling operations and all the required environmental licenses have been secured at the necessary time.

In February 2018, Lebanon signed its first offshore oil and gas exploration and production contracts for two energy blocks 4 and 9 with a consortium of France's Total, Italy's Eni and Russia's Novatek.

In April 2019, Boustani announced the launch of Lebanon's second licensing round for offshore oil and gas exploration in five other blocks.

Lebanon hopes to give a big boost to its economy through offshore energy discovery.