Eni and TotalEnergies transferred their 30% interest in Lebanon's offshore exploration Blocks 4 and 9 to QatarEnergy, an Eni press release announced on Jan. 29.
Eni now holds a 35% interest in the blocks, while operator TotalEnergies holds the remaining 35% interest.
The transfer was completed during an agreement signing between Lebanon Minister of Energy and Water Walid Fayad, QatarEnergy president and CEO and Qatar Minister of State for Energy Affairs Saad Sherida Al-Kaabi, Eni CEO Claudio Descalzi and TotalEnergies CEO Patrick Pouyanné in Beirut.
"The operation strengthens the strategic cooperation with QatarEnergy, a partner in Qatar, Oman, Mexico, Morocco and Mozambique and confirms the interest of the exploratory basins in the eastern Mediterranean," Eni said in the release.
Recommended Reading
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.
Diamondback Stockholders All in for $26B Endeavor Deal
2024-04-29 - Diamondback Energy shareholders have approved the $26 billion merger with Endeavor Energy Resources.
Imperial Oil Names Exxon’s Gomez-Smith as Upstream Senior VP
2024-04-30 - Cheryl Gomez-Smith, currently director of safety and risk at Exxon Mobil’s global operations and sustainability business, will join Imperial Oil in May.
Permian Resources Declares Quarterly Base, Variable Dividends
2024-02-29 - Permian Resources’ dividends are payable March 21 to shareholders of record by March 13.