Israel

Lebanon hopes to join the club of EastMed gas producers as TotalEnergies and its partners spud an appraisal well near Beirut’s maritime border with Israel where gas is already being produced.

The 5-year contract with global ROV equipment and services provider ROVOP supports Energean’s field development within the wider Katlan area adjacent to Israel’s Karish gas field.

The proposed transaction also would be the first step in establishing a joint venture between BP and ADNOC.

QatarEnergy’s acquisition of a 30% interest in E&P blocks offshore Lebanon with TotalEnergies and Eni expands the company’s East Med portfolio while enabling the Emirate to help mediate Beirut’s longstanding political and economic crisis.

A total of 20 new exploration blocks are on offer within the Israeli Economic Zone.

Boosting gas production from Israel’s Tamar offshore gas field, combined with gas from the neighboring Leviathan field, will further the ambitions of both Israel and Egypt in the Eastern Mediterranean.

The French supermajor is looking to drill Lebanon's first successful exploration well by the end of next year.

NewMed’s planned merger with Capricorn Energy may benefit the Israeli company’s Moroccan offshore activities considering that Capricorn had explored the same area in its previous business incarnation.

Settlement of the maritime border between Israel and Lebanon will unlock new natural gas reserves in the Eastern Mediterranean.

The new discovery is expected to de-risk 50 Bcm of resources in region off Israel.