9 February 2018
AWARDS CEREMONY OF THE EPAs SIGNATURE
On the 9th of February 2018 the official signing ceremony of two exclusive petroleum rights awarded to the consortium composed of Total – Eni - Novatek was held in Beirut. The ceremony was attended by the President of the Republic of Lebanon General Michel Aoun, along ministers and Members of Parliament, together with Ambassadors, companies representatives and other stakeholders.
29 January 2018
THE CONSORTIUM SUBMITTED THE TWO EXECUTED OIL AND GAS EXPLORATION AND PRODUCTION AGREEMENTS
The Minister of Energy and Water, Cesar Abi Khalil, announced that the consortium composed of Total S.A., Eni International B.V., and JSC Novatek that has been awarded two exclusive petroleum rights on Blocks 4 and 9 of the Lebanese Offshore, has submitted the two executed Exploration and Production Agreements along with the guarantees for the execution of related petroleum activities.
Abi Khalil added that the companies abided by the period to submit the agreements and the guarantees as prescribed in the tender protocol.
Moreover, Abi Khalil declared that as per the provisions of the tender protocol allowing the right holders to establish wholly owned signing affiliates, the two Exploration and Production Agreements were duly signed by Total E&P Liban s.a.l. (established in Lebanon and wholly owned by Total S.A.), Eni Lebanon B.V. (established in the Netherlands and wholly owned by Eni International B.V.), and Novatek Lebanon (established in Lebanon and wholly owned by JSC Novatek). All the right holders provided their respective signing affiliates with Parent Company Guarantees in line with the provisions of the Tender Protocol.
Abi Khalil announced that the official ceremony to commemorate the signature of the two agreements will be held under the High Patronage of the President of the Republic, General Michel Aoun on the 9th of February 2018 at 15:00 at Pavillion Royale in Beirut.
26 January 2018
LPA-AAPG SEMINAR ON CARBONATE RESERVOIR MODELING
On the 26th of January 2018, the Lebanese petroleum administration organized the first in a series of technical events to promote the science of petroleum geology and petroleum engineering.
Various members from academia and professionals from the oil and gas sector attended the fruitful seminar given by Rachel Wood, Professor of Carbonate Geosciences at the University of Edinburgh.
The latest research on carbonate reservoir modeling was presented as part of the AAPG distinguished lecture series. Wood, introduced her research “modeling the evolution of permeability in carbonates” as a new approach for carbonate reservoir understanding and that in terms of porosity and permeability.
It is an enormous step forward to predict a behavior as such and implement it, especially now that most of the new ventures in the East Mediterranean are carbonate targets.