It’s official! An oil producing country. Total-led consortium awarded contract. Next step is exploration

The Cabinet awarded a consortium led by Total (France), and including ENI (Italy) and Novatek (Russia) the exploration and production contracts of two maritime blocks (4 and 9).

"The Cabinet approved the financial and technical terms agreed upon with the consortium," said Walid Nasr, Chairman of the Lebanese Petroleum Administration (LPA).

The next step is signing the Exploration and Production Agreement (EPA). Once signed, the consortium can start actual exploration.

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