The Caretaker Minister of Energy and Water, Raymond Ghajar, stated that the consortium made up of Total, Eni and Novatech Companies, is continuing its oil activities in Lebanon under the leadership of the operating company, Total, especially in implementing the amended law 160/2020 (suspension of deadlines) with the first exploration period being extended in Blocks 4 and 9 of Lebanese territorial waters until August 13, 2022, Lebanese National News Agency reported.
Ghajar added that the consortium showcased its working plan and budgets for Blocks 4 and 9 for the year 2021 including studies and data analysis to complete activities of Block 4 and drill the first well in Block 9.
“The Ministry of Energy and Water and the Petroleum Sector Administration are following-up with the companies’ consortium on the implementation of the work programs for the two blocks,” Ghajar said.
He noted that by 2021, the COVID-19 repercussions continue its impact on the oil industry pushing international oil companies (IOCs) to reduce their exploration activities in most of the world’s countries.
Additionally, he pointed to the incident of Beirut Port Explosion which impacted the logistical base of oil activities in Lebanese waters.