French oil major TotalEnergies and its Italian partner Eni have signed a framework agreement with Israel to implement the agreement on the maritime boundary, which was reached between Israel and Lebanon on October 27, 2022.
In Lebanon, TotalEnergies is the operator of the exploration Block 9, and holds a 60% interest, alongside Eni (40%).
Following the signature of this Framework Agreement, the Block 9 partners will initiate the exploration of an already identified prospect which might extend both in Block 9 and into Israel waters South of the recently established Maritime Border Line.
"The preparation of exploration activities starts now with the mobilization of the teams, the purchase of required equipment, and the procurement of a drilling rig," TotalEnergies said.
"TotalEnergies, as the operator of Block 9, is proud to be associated with the peaceful definition of a maritime border between Israel and Lebanon. By bringing our expertise in offshore exploration, we will respond to the request of both countries to assess the materiality of hydrocarbon resources and production potential in this area," said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.
Welligence Energy Analytics, an oil and gas intelligence company, said on social media that the new well would be the second deepwater well to be drilled in Lebanon. In 2020, TotalEnergies, Eni, and Novatek drilled a well in Block 4.