Lebanon will offer exploration rights for Block 4 after consortium with Eni quits

Two sources familiar with the situation told Reuters.

BEIRUT (Reuters) - Lebanon will offer for the second time exploration rights to an offshore block given up by an international consortium.

The consortium led by TotalEnergies and including Eni and QatarEnergy let its rights to Block 4 expire on Oct. 22, without renewing them.

The consortium-which previously included Russian company Novatek before QatarEnergy took over and expanded its share-completed exploratory drilling in Block 4 in 2020, but did not find a commercially viable quantity of hydrocarbons at that time.

The consortium had until Oct. 22 to decide whether to proceed with a second phase.

The two sources said Lebanon intends to offer the block during an upcoming licensing round, but did not provide a date.

Last month, the same consortium applied for a second licensing round for oil and gas blocks 8 and 10 in Lebanese waters.

(Translated by Enrico Sciacovelli, editing Stefano Bernabei)