This article was published in LOGI's June 2020 newsletter in partnership with Kulluna Irada.
The lead company in a consortium that is set to undertake exploratory drilling in Lebanon’s southern Block 9 will set the precise location of the drilling activities by mid-july, according to a member of the Lebanese Petroleum Administration.
Wissam Chbat, an LPA board member, told Chinese state media Xinhua that Total would set the drill site “within 6 weeks” of the date of the June 4th interview, in a sign that the company will not cancel drill plans as some have alleged.
“Total will keep in mind that it should complete its drilling of the well in Block 9 before the end of May 2021,” Chbat said.
The devastating effects of the COVID-19 pandemic on international demand for oil and gas has led to a crash in the market that has forced companies to reconsider their investment in exploration.
Total, which is drilling in consortium with Eni and Novatek, had previously been set to drill in Block 9 before the end of 2020, but has since indicated that the drill date will be delayed into 2021.
A consortium of Eni and Total have postponed drill plans in Cyprus due to the fallout from COVID-19.
Photo Credits: xinhuanet.com