The CEO of Qatar State Energy Company said the company is in talks with the Lebanese government to acquire a 30% offshore exploration area and is also in talks with Total Energies and Eni.
Saad Al-Kaabi, CEO of the Qatari company, added yesterday, Sunday: “We are discussing this with the Lebanese government and with partners Total and Eni to share about 30% of the ownership of the exploration area. … And in time, when we put the finishing touches on it and it turns into basically an agreement and we sign this agreement, we will announce.”
Two sources told Reuters last week that Total Energy and the Lebanese government had reached an agreement that would give the French oil giant temporary control of the concession and pave the way for talks with Qatar over a stake in the gas project.
The initial exploration license was granted to a consortium of 3 companies: France’s Total Energies, Italy’s Eni and Russia’s Novatek. In September, Beirut announced its exit from Novatek, which owned a 20% stake.
On October 21, the Lebanese Council of Ministers made an unpublished decision to transfer Novatek’s stake to a company named (Daga 216) and transfer 40% of Total Energy’s shares to another company named (Daga 215). Two sources told Reuters that Daga 215 and Daga 216 are linked to Total Energy.
The two sources explained that the agreement between Total Energies and Lebanon stipulates that the French group enters into negotiations with Qatar Energy regarding the share of the former Novatek, and that Qatar is seeking a 30 percent stake consisting of the former Novatek’s share. and five percent of the shares of Total and Eni.