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Lebanon: First Oil, Natural Gas Exploration Contracts Signed

1 MIN READFeb 9, 2018 | 16:14 GMT

Lebanon has signed its first oil and natural gas exploration contracts with an international consortium made up of (French) Total, (Italian) Eni and (Russian) Novatek, The Jerusalem Post and The Daily Star reported Feb. 9. Following government approval of natural gas exploration in Lebanon's Exclusive Economic Zone in January 2017, the Lebanese government passed an oil and natural gas exploration taxation law, which permitted international oil companies to apply for exploration and development licenses. Lebanese Energy Minister Cesar Abi Khalil said there would be full exploration of Block 9, which has been awarded but remains at the center of a territorial waters dispute with Israel.

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