NOVATEK Signs Exploration and Production Agreements in Lebanon

NOVATEK’s participating interest in the Agreements is 20%, Total and Eni both hold 40% stakes, with Total appointed as the Operator.

In October 2017, NOVATEK jointly with Total and Eni submitted a bid for the two offshore blocks in Lebanon. In December 2017, the Government of Lebanon resolved to award the blocks 4 and 9 to the bidders as the result of the first International Competitive Offshore Licensing Round and resolved on concluding the exploration and production agreements.