Eni and TotalEnergies transferred their 30% interest in Lebanon's offshore exploration Blocks 4 and 9 to QatarEnergy, an Eni press release announced on Jan. 29.
Eni now holds a 35% interest in the blocks, while operator TotalEnergies holds the remaining 35% interest.
The transfer was completed during an agreement signing between Lebanon Minister of Energy and Water Walid Fayad, QatarEnergy president and CEO and Qatar Minister of State for Energy Affairs Saad Sherida Al-Kaabi, Eni CEO Claudio Descalzi and TotalEnergies CEO Patrick Pouyanné in Beirut.
"The operation strengthens the strategic cooperation with QatarEnergy, a partner in Qatar, Oman, Mexico, Morocco and Mozambique and confirms the interest of the exploratory basins in the eastern Mediterranean," Eni said in the release.
Recommended Reading
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
US Raises Crude Production Growth Forecast for 2024
2024-03-12 - U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook.
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.