NOVATEK Signs Exploration and Production Agreements in Lebanon
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NOVATEK Signs Exploration and Production Agreements in Lebanon
NOVATEK’s participating interest in the Agreements is 20%, Total and Eni both hold 40% stakes, with Total appointed as the Operator.
In October 2017, NOVATEK jointly with Total and Eni submitted a bid for the two offshore blocks in Lebanon. In December 2017, the Government of Lebanon resolved to award the blocks 4 and 9 to the bidders as the result of the first International Competitive Offshore Licensing Round and resolved on concluding the exploration and production agreements.