Lebanon’s Energy Minister has confirmed Qatar state firm QatarEnergy is to farm into Block 4 and Block 9, offshore Lebanon. Walid Fayad told Reuters on 26 January that “this will be a major development.” The signing ceremony is planned for 29 January, where QatarEnergy will take 30% stakes in the blocks and will partner the operator, French major TotalEnergies, and Italian firm Eni (MEES, 4 November 2022). QatarEnergy will hold a 30% stake in both blocks with TotalEnergies and Eni retaining 35% each. Russia’s Novatek relinquished its 20% stakes in the blocks in September last year, with QatarEnergy snapping those up along with 5% each from Total and Eni (MEES, 23 September 2022).

QatarEnergy has been increasing its East Mediterranean footprint in recent years taking non-operator stakes offshore Cyprus and Egypt, in cooperation with US major ExxonMobil (MEES, 1 April 2022). (CONTINUED - 217 WORDS)