Offshore Exploration in Lebanon Commences with Arrival of Drilling Rig

French energy group TotalEnergies announced that a drilling rig has arrived in Lebanon to begin offshore oil and gas exploration later this month. This follows a U.S.-brokered agreement that established a maritime border between Lebanese and Israeli waters. Lebanon hopes that gas and oil discoveries will help alleviate its severe economic crisis. TotalEnergies leads a consortium, including ENI and QatarEnergy, in the offshore project. The drilling of the exploration well in Block 9 is expected to start by the end of August, with potential positive results by the end of the year.