TotalEnergies says to begin drilling in Lebanon in late September
French oil giant TotalEnergies will begin drilling for potential gas reserves in Lebanon’s offshore Block 9 in late September, a company official said.
“The results of the drilling operations will be announced at the end of this year,” said Romain de la Martinière, the General Manager of Exploration and Production at TotalEnergies, following a meeting in Beirut with caretaker Public Works and Transport Minister Ali Hamieh.
Hamieh for his part reassured that Beirut’s port and airport are “fully prepared” to play an “active role” in the oil and gas exploration file.
07 March 2023, 17:44
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A quick reality check! After Ukraine invasion, natural gas unit price increased to over $6 a unit. Today unit price dropped to $2.6, below what it was prior to invasion. This makes most new deep sea discoveries of potential gas fields uneconomical. Nonetheless, the political mafia and corrupt FPM ministers and staff are planning to reap billions in infrastructure cost to distribute on FPM cronies and corrupt deals while Lebanese people will have zero benefits. Reforming energy ministry and firing all FPM and associate appointees should be first act before any gas exploration in our national waters.
