Lebanon: Oil and gas drilling to begin in 2019

By The Associated Press

Lebanon's energy and water minister says the country will start exploratory offshore drilling for oil and gas in 2019.

 

BEIRUT (AP) — Lebanon's energy and water minister says the country will start exploratory offshore drilling for oil and gas in 2019.

Cesar Abi Khalil, speaking to reporters on Friday, says between 55 to 71 percent of drilling revenues will go to the country. He says the government has given the green light for drilling in two blocks in the Mediterranean Sea, including one that is disputed in part with Israel.

Abi Khalil says Lebanon will "assert its resource rights" along the length of its maritime territories.

Lebanon's government had approved the licenses for an international consortium to move forward with offshore oil and gas development a day earlier. Abi Khalil says the government will sign contracts with Italy's Eni, France's Total and Russia's Novatek next year.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs