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Italian energy major ENI said the company has signed two Exploration and Production Agreements (EPA) with Lebanon covering Blocks 4 and 9. located in the deep waters off the Lebanese coast.
According to ENI. 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 Lebanon’s offshore reserves and further strengthens ENI’s presence in the Eastern Mediterranean where the company operates exploration and production activities in Egypt and exploration activities in Cyprus. the Italian company said in a press release on February 9.
ENI holds a 40% participation interest in both blocks. Total is the operator with a 40% stake. and Novatek holds a 20% stake.
