Lebanon: QatarEnergy Joins TotalEnergies and Eni on Two Exploration Blocks

PARIS--(BUSINESS WIRE)--Regulatory News:

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Eni have completed the transfer to QatarEnergy of a 30% interest in exploration Blocks 4 and 9 off the coast of Lebanon.

The agreements were endorsed in Beirut on January 29, during a ceremony attended by His Excellency Dr. Walid Fayad, the Minister of Energy and Water of Lebanon; His Excellency Mr. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy; Mr. Patrick Pouyanné, Chairman and CEO of TotalEnergies; and Mr. Claudio Descalzi, CEO of Eni.

Pursuant to the terms of the agreements, TotalEnergies (operator) and Eni will each retain a 35% interest in the blocks with QatarEnergy holding the remaining 30%.

“We are very pleased to welcome QatarEnergy in our exploration acreage in Lebanon. The recent delineation of Lebanon’s maritime border with Israel has created a new momentum for the exploration of its hydrocarbon potential. Along with our partners, we are committed to drilling as soon as possible in 2023 an exploration well in Block 9, and our teams are mobilized to conduct these operations”, said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

This new partnership further expands the cooperation between TotalEnergies and QatarEnergy in exploration activities, and brings to nine the number of countries where the two companies have partnerships.

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About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

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