No hydrocarbon finds were made after exploratory drilling operations at Lebanon’s offshore Block 9, two sources with direct knowledge of the matter told Reuters this week.
Lebanon’s energy minister and officials from the Lebanese Petroleum Administration declined to comment but mentioned unofficially the absence of commercial gas reserves; according to multiple media reports and sources, the exploration drilling carried out by TotalEnergies targeting the Qana prospect in Lebanon’s Block 9 was not successful and accordinly the operation has concluded after reaching a depth of 3,900 meters below sea level, finding only water.
Well-informed sources from the Energy community have revealed that the quantities uncovered are in fact not up to expectations. Mainly, in the location where the drilling took place, they did not come across major findings or an outpouring of gas, but there is positive data. Initially, the quality of the wells is favorable, and there are similarities to reservoirs exploited in neighboring countries. For now sources noticed that the collected samples will be analyzed, and conclusions will be provided. This process takes time, and data integration will require at least three months.
As per the reported information, the TransOcean Barents platform purportedly halted drilling after some assessments indicated the absence of gas at a depth of 3,900 meters within the block, whereas the contract stipulated drilling to a depth of 4,400 meters but they stopped operation since the indications were very negative when the sources told Reuters that they had “hit water” while drilling, meaning no oil or gas had been found.
The consortium drilling in Block 9 is led by France’s TotalEnergies and includes Italian oil giant ENI and state-owned QatarEnergy. TotalEnergies declined to comment, while QatarEnergy and Eni did not immediately reply to a request for comment by Reuters.
The TransOcean Barents began drilling in late August and was set to have preliminary results by the end of this month or in November.
Block 9 is one of the blocks falling alongside the newly delineated maritime border between Lebanon and Israel.
The boundary was drawn last year following U.S.-mediated talks.
In this context, it is important to note that the consortium submitted an offer for the exploration of two blocks, 8 and 10, within the EEZ in early October. Furthermore, Lebanon initiated a three-dimensional (3D) seismic study of Block 8 in August, with the results set to be published by the end of the first semester of 2024. A 3D seismic study provides a more accurate insight into the potential hydrocarbon volumes that could be discovered. It is worth noting that Block 8 falls outside the scope of the maritime border delineation with Israel.
Lebanon hopes gas and oil discoveries will help it to reverse a crippling economic crisis that has cost the local currency more than 98% of its value, eroded the country’s foreign reserves and caused rolling blackouts across towns and cities.
Note that Lebanese officials and many energy experts are keeping the hope about the discovery of oil and gas when it will help reverse an economic crisis that has sent its currency plummeting, caused rolling blackouts across towns and cities, and resulted in a shortage of essential goods and medicines.
According to Energy expert Dr. Roudu Baroudi, Lebanese should keep the hope when other wells can be drilled in the same block to explore the presence of gas in it.
Baroudi insists on optimism, stressing that discovering gas does not always happen through drilling the first well.
Studies and research confirm that the chances of discovering gas in Lebanese waters are very high.
Let’s wait for the upcoming drilling, which we hope will be positive. but also it is important to manage our expectations!
Sources: Reuter, LBCI
