Doha – Saad Al-Kaabi, CEO of Qatar Energy Company, confirmed on Sunday that the state-owned company is in negotiations with the Lebanese government to buy a 30% stake in a marine exploration area and is also in talks with Total Engels and Eni in this regard. This is happening as the Lebanese government looks for resources to help it deal with its financial crisis.
According to two sources, an agreement between Total Enemz and the Lebanese government last week gave the French oil giant temporary control over the concession region and opened the door to talks with Qatar about a stake in the gas project.
To share in around 30% of the ownership of the exploration zone, we are currently in discussions with the government of Lebanon and the partners Total and Eni, according to Al-Kaabi.
“We will announce it at the appropriate moment, when we put the finishing touches on this and this is primarily transformed into an agreement, and we sign this agreement,” he continued.
Three businesses, Total Enemz, Italian Eni, and Novers, were part of the consortium that received the initial exploration licence. In September, Beirut announced the exit of Novak, which had a 20 percent stake.
On October 21, the Lebanese Council of Ministers made a decision that was not announced that transferred the Novak share to a firm called (Daga 216) and the 40% Total Enem Enem to another business, called (Daga 215). According to the two sources, Total Enemz was followed by Daga 215 and Daga 216.
The two sources noted that, in accordance with the agreement between Total Enemz and Lebanon, the French company must negotiate with Qatar Energy on the former Novak share and that Qatar is aiming to acquire a 30 percent stake, made up of the former Novak share and 5% each of Total and Eni.
After years of negotiations under American mediation, Lebanon and Israel came to a historic deal two weeks ago to demarcate the disputed maritime borders. This agreement paves the way for the discovery of energy resources off the coast of Qiboor, and it was formally signed last Thursday.
The Qana field, a significant area for excavation by Total and Eni, will become Patch No. 9.
Qatar is to join a partnership to explore for oil and gas in the 4 and 9 concessions in the eastern Mediterranean to become “the third partner of Total and Eni,” the Lebanese Presidency of the Council of Ministers revealed last week, citing Lebanese Energy Minister Walid Fayyad.
Qatar wants to take part in a scheme to explore gas off Lebanon.
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