Source: Kataeb.org
Wednesday 11 October 2023 10:44:48
The results of drilling in Lebanon's territorial waters are expected to be revealed within a month, after which the oil extraction phase is set to begin. However, recent security developments have raised questions about the threat of these events on the continuity of drilling operations.
Caretaker Minister of Energy and Water, Walid Fayad, stated: "The war has no impact on the current drilling process."
Oil and gas expert, Fadi Jawad, affirmed the existence of a regional international decision to neutralize the oil platforms on both the Lebanese and Israeli sides. This was one of the conditions in the border demarcation agreement that the consortium agreed upon in order to resume exploration in Lebanese blocks.
Jawad also noted that Total, with its team of 140 engineers and technicians, continues to work day and night, commuting every two weeks by sea and air between Lebanon and Cyprus.
He also pointed out that a plan was established to serve as the land logistics base for TotalEnergies and its allies to safely complete drilling and exploration in case the situation escalates and goes out of control.
"There is an international and regional assurance to continue drilling under all circumstances, especially since the consortium has already invested around $200 million in each of Blocks 4 and 9," he noted.
Furthermore, the U.S. energy company Chevron has announced its continued drilling operations in the Tamar field. This field is located several kilometers away from the Qana and Karish fields. This confirms that the ongoing war between Israel and the Qassam Brigades will not have an impact on Lebanon's oil industry.
Fayad had announced over the past weekend that "the drilling is currently at a depth of 1,700 meters below the water surface and at a depth of 1,800 meters beneath the seabed, equivalent to 3,500 meters below the water surface."
"Next week, Lebanon will enter the final phase of the current exploration process: he will come into contact with potential reservoir layers."