London — Lebanon will sign a gas exploration deal with a consortium comprising QatarEnergy, TotalEnergies and Italy’s Eni in the country’s Block 8 offshore area, the Lebanese cabinet said on Thursday.
In 2023, Lebanon granted a license to conduct seismic studies on Block 8 to Bright Skies and GeoX.
Lebanon hopes gas and oil discoveries will help it to reverse a crippling economic crisis that has cost the local currency more than 98% of its value, eroded the country’s foreign reserves and caused rolling blackouts across towns and cities.
This article was originally posted at sweetcrudereports.com
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