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BEIRUT: French agency TotalEnergies stated Wednesday {that a} drilling rig had attain Lebanese waters forward of exploration for offshore fuel reserves, months after a landmark accord demarcating the Lebanon-Zionist entity maritime border. “TotalEnergies, the operator of Block 9, proclaims the arrival of the drilling rig, Transocean Barents, on the block, at round 120 kilometers off the coast of Beirut,” an announcement stated, including {that a} transport helicopter had additionally reached Beirut airport.
Beirut divided its unique financial zone at sea into 10 blocks, and Block 9 was a part of an space disputed with the Zionist entity. “The arrival of the tools marks an essential step within the preparation of the drilling of the exploration effectively in Block 9, which can start in direction of the top of August,” TotalEnergies added. In October final yr, a US-mediated maritime border settlement between Lebanon and the Zionist entity opened up doubtlessly profitable offshore fuel fields for the japanese Mediterranean neighbors.
Block 9 accommodates the so-called Qana area or Sidon reservoir, components of which fall within the Zionist entity’s territorial waters. Underneath the deal, Lebanon gained full rights to function and discover Qana, however the Zionist entity will obtain compensation from the agency working the reservoir. There are nonetheless no confirmed fuel deposits there, however a 2012 seismic research by the British agency Spectrum estimated Lebanon’s recoverable fuel reserves at 719.2 billion cubic meters. Lebanese officers have introduced larger estimates. “A brand new web page has been written as we speak.
When the logistical group is prepared in a number of days, drilling will start,” Power Minister Walid Fayad stated. The outcomes will probably be recognized in two to 3 months, he added. Since late 2019, Lebanon has been caught in an financial collapse that has plunged most of its inhabitants into poverty and been described by the World Financial institution as one of many worst in fashionable historical past. The nation is suffering from persistent energy cuts and has at instances seen gas shortages.
Many Lebanese politicians have expressed hope that fuel exploration can provide a manner out of the financial disaster, as officers fail to implement reforms demanded by worldwide collectors in return for bailout funds. However analysts have warned Beirut can’t depend on fuel alone to ease its financial woes, and that it’ll take a number of years to start exploiting the Qana area, ought to a commercially viable discovery be made. – AFP
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