TotalEnergies: a framework agreement with Israel on the gas field shared with Lebanon

TotalEnergies: a framework agreement with Israel on the gas field shared with Lebanon


(AFP)

TotalEnergies and the Italian hydrocarbon giant Eni have signed a framework agreement with Israel on the gas field shared with Lebanon, the French group announced in a press release on Tuesday.

The framework agreement aims to “implement the agreement on the maritime border which was finalized between Israel and Lebanon on October 27, 2022”, specifies the French group.

The October 27 agreement secures the allocation of valuable offshore gas fields in the eastern Mediterranean and reduces tension in the region. It had been obtained through a long American mediation.

The framework agreement signed between the companies and Israel concerns in particular “block 9”, where TotalEnergies and ENI will now be able to explore an “already identified prospect which could extend both in block 9 and in Israeli waters in south of the recently established maritime border”, explains the French group.

Lebanon divided the Exclusive Economic Zone at sea into ten blocks and Block 9 was part of the area disputed with Israel.

“In Lebanon, TotalEnergies is the operator of exploration block 9 and holds a 60% stake in it alongside its partner ENI (40%)”, specifies the group.

“We will respond to the request of the two countries to assess the materiality of hydrocarbon resources and their productive potential in this area,” said Patrick Pouyanné, CEO of TotalEnergies, in a press release.

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