Eni seals exploration contracts in Lebanon

Eni seals exploration contracts in Lebanon

Italian energy giant, Eni said it has signed two Exploration and Production Agreements (EPA) with the Republic of Lebanon covering Blocks 4 and 9, located in the deep waters offshore Lebanon.

The company said in a statement that the agreements are the result of the first International Competitive Offshore Licensing Round launched by Lebanese Petroleum Authority.

The agreements open the way for the exploration of the Offshore of Lebanon and further strengthen the Company’s presence in the Eastern Mediterranean, where the Company operates exploration and production activities in Egypt and exploration activities in Cyprus.

Eni holds a 40% participation interest in both blocks. Total is the Operator with a 40% stake, while Novatek holds a 20% stake.