NOVATEK, Total and Eni signed exploration and production agreements with the Government of Lebanon to explore and produce hydrocarbons on the offshore blocks 4 and 9 in the Eastern part of the Mediterranean Sea.
NOVATEK reported this on February 9, 2018.
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.
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