QatarEnergy will join TotalEnergies (TTEF.PA) and Eni (ENI.MI) in a three-way consortium to explore oil and gas in two maritime blocks off the coast of Lebanon, the Lebanese energy ministry said on Thursday.
The announcement said agreements would be signed on Sunday.
“This will be a major positive development,” Lebanon’s energy minister Walid Fayad told Reuters, adding that it could bring forward the launch of exploration activities from November.
Following months of talks, QatarEnergy is set to take a 30 percent stake, leaving France’s TotalEnergies and Italy’s Eni with 35 percent each.
QatarEnergy, TotalEnergies and Eni did not immediately respond to requests for comment.
Lebanon’s first licensing round in 2017 saw a consortium of TotalEnergies, Eni and Russia’s Novatek win bids to explore in the offshore 4 and 9 blocks.
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