Lebanon said on Friday it had signed its first offshore oil and gas exploration and production agreements for two blocks, as the country begins it’s petroleum path.
According to Reuters report, one of the blocks lies partially in waters disputed by neighbouring Israel.
“Today, we announce that we have started our petroleum path … after signing the agreements and launching the exploration activities,” Energy Minister Cesar Abi Khalil said at a ceremony in Beirut, according to reports by Reuters.
A consortium of France’s Total, Italy’s Eni and Russia’s Novatek signed contracts for two of the five blocks that Lebanon put up for tender in the country’s much-delayed first oil and gas offshore licensing round.