Israel signed a preliminary agreement with Total Energies and Eni, allowing them to start exploring for natural gas as part of a historic agreement to demarcate the maritime borders with Lebanon.
Last month, Lebanese and Israeli leaders concluded a US-brokered maritime border demarcation agreement. The focus of the agreement was on settling a dispute over a potential gas field in Lebanon's offshore Block 9, which extends into Israeli waters.
Total Energies operates the block with a stake of 60%, while Eni's share is 40%.
“The block 9 partners will begin exploring an already identified prospect which could extend in both the sector and Israeli waters south of the recently defined maritime boundary line,” Total Energies said Tuesday.
Lior Schillat, director general of the Israeli Energy Ministry said the agreement "will allow the development of a cross-border gas reservoir between two countries, which is an unusual event in the global energy market."
The Energy Department said a more detailed final arrangement would be signed if commercial quantities were discovered.
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