TotalEnergies says to explore for gas in Lebanon waters

TotalEnergies says to explore for gas in Lebanon waters

French firm TotalEnergies has signed a contract to begin drilling and exploring for gas this year in waters off crisis-hit Lebanon, the company said in a statement.

"TotalEnergies in agreement with its partners Eni and QatarEnergy has signed a firm contract with Transocean to hire the drilling rig that will drill an exploration well on Block 9 offshore Lebanon, as soon as possible in 2023," the group said.

"This is a new key step in the preparation of the operations," TotalEnergies added.

The announcement follows the signing in October of a landmark border agreement between Lebanon and Israel that opens up lucrative offshore gas fields for the eastern Mediterranean neighbors.

Beirut divided its exclusive economic zone at sea into 10 blocks, and Block 9 was part of the area disputed with Israel.

Block 9 contains the so-called Qana field or Sidon reservoir.

There are still no proven gas reserves in the field that straddles the maritime border, but a 2012 seismic study by the British firm Spectrum estimated recoverable gas reserves in Lebanon at 25.4 trillion cubic feet.

Lebanese officials have announced higher estimates.

Many politicians in Lebanon have pinned hopes of a way out of crisis on gas exploration, but analysts have said Beirut, which is in