Beirut port welcomes first supply vessel to prepare for offshore drilling

/ Oil & Gas / Wednesday, 12 February 2020 06:59

Local Lebanese media reported lately a supply vessel that docked on Beirut's port, as Lebanon prepares to begin offshore drilling and oil and gas exploration.

The Lundstrom Tide, which has been hired by the French oil and gas company Total, arrived ahead of the Tungsten Explorer drill ship, which is expected on 15 February.

In February 2018, Lebanon signed its first contract to drill for oil and gas in its waters.

A consortium compromising of energy giants Total, ENI and Novatek took the first two of its 10 blocks, including one disputed by Israel – a country that Beirut has no official diplomatic ties with.

Drilling at block 4 had initially been scheduled for December 2019, according to ex-Energy Minister Nada Boustani. But Lebanon has been gripped by political turmoil and mass protests over a wide-reaching recession and a spiraling financial crunch.

If gas were to be found off Lebanon’s shores, it is promising to boost the county’s economy and improve its future credit ratings.

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