Lebanon Businessnews News

Exploration plan for
oil and gas approved
Activities, roadmap, and locations have been set
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The Ministry of Energy and Water (MoEW) has approved an exploration plan put together by the oil and gas consortium Total, Eni, and Novatek.

The consortium, which was granted the right to drill in blocks 4 and 9, had 60 days from the date it signed a contract with the State, to deliver the plan for each block. The Lebanese Petroleum Administration (LPA) had 60 days to study and amend it.

The plan sets out the main petroleum-related activities to be carried out by the consortium. These include the completion of geological and geophysical surveys of the blocks to improve the probability that they find oil and gas.

The plan also includes a roadmap to acquire all the necessary governmental permits and approvals. The consortium is, for example, required to conduct an environmental study of the locations of the wells, with the approval of the Ministry of Environment.

All involved ministries have formed committees to study permits and approvals.

The consortium is expected to sign several service contracts and prepare an overland logistics base for exploration and production works.
Reported by Yassmine Alieh
Date Posted: May 29, 2018
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