Bustani Hands Total First License to Drill for Lebanon’s Oil and Gas

W460

Caretaker Energy Minister Nada Bustani on Friday handed the license to drill Lebanon’s first oil exploration well in its territorial waters to the director of Total.

Bustani handed over the permit to drill in Bloc 4 to a consortium comprising energy giants Total (France), ENI (Italy) and Novatek (Russia).

Last year, Lebanon signed its first contract to drill for oil and gas in its waters.

Total, ENI and Novatek took the first two of its 10 blocks, including in Bloc 9, disputed by neighboring Israel with which Lebanon has fought several wars.

Total said it was aware of the border dispute in less than eight percent of block 9 and said it would drill away from that area.

On April 5, Lebanon invited international consortia of at least three companies to bid for five more blocks by the end of January 2020.

SourceNaharnet
Comments 10
Thumb thepatriot 13 December 2019, 13:59

For those who care, this is the contract :https://www.resourcecontracts.org/contract/ocds-591adf-0114673626/view#/
The 23 first pages are just the preamble.
Also, for info, page 24... the Exploration Phase is 5 years. So, do not expect the $ to fall in soon...

Thumb thepatriot 13 December 2019, 14:09

Roughly, we are getting 30 to 40% of the crude material. it is a calculation based on the amount of findings..

Thumb canadianleb 13 December 2019, 14:26

Lets hope the contract was done without ensuring the ministers get the cuts before the treasury. I am sure this was not done on the up and up.

Missing samiam 13 December 2019, 14:52

They seem like they are so happy about it---they don't tell the pubic that it will take a few years to begin to see its benefits. Basil made some committee and starting paying them a few years ago--representatives of 6 sects and they were getting something like $150,000 per year while doing nothing.

Thumb s.o.s 13 December 2019, 14:55

Total gave Bassil and Ned Hariri substantial kickbacks to get the contract, this also applies to the Italian and Russian companies involved. The technocratic gov should look into this and cancel the deals for corruption.

Thumb thepatriot 13 December 2019, 16:40

It is highly undoubtedly that a deal like this can be done without commissions. There would be commissions even in a civilized country... so imagine how much Bassil probably filled
his pockets... I hope someday day someone can find out about this...

Thumb s.o.s 13 December 2019, 17:04

We won’t know the figures because the DGSE is involved...

Thumb thepatriot 13 December 2019, 20:37

Le bouffon est de retour! Tu commencais a me manquer!
Et en plus tu as toujours autant de chose fascinantes a nous raconter...

Thumb s.o.s 14 December 2019, 02:56

T’es quand même borné nospasdaran, on en a rien à cirer de Geagea. il fait partie de la clique qui doit partir avec tous les partis représentés au parlement. Point à la ligne.

Un filtre pour choisir le technocrate est de prendre les libanais diplômés dans les disciplines requises pour les fonctions ministérielles dans le top 10 des universités de ce monde. Pas de l’AUB où l’on peut s’acheter son diplôme mais de Harvard, Oxford, Cambridge etc. Et s’il y a plusieurs candidats ou prend ceux avec la plus haute distinction. On s’en fiche de leur religion. Le seul critère est la compétence et l’expérience dans leur field .

Missing rami 14 December 2019, 13:21

SOS, excuse notre barbu local sur Naharnet, il n'a toujours rien compris. Je me demande c quand la dernière fois qu'il a pris son bain, ça commence à serieusement puer ici.