Senior Lebanese politicians visit the Transocean Barents drilling rig off the coast of Beirut. EPA
Senior Lebanese politicians visit the Transocean Barents drilling rig off the coast of Beirut. EPA
Senior Lebanese politicians visit the Transocean Barents drilling rig off the coast of Beirut. EPA
Senior Lebanese politicians visit the Transocean Barents drilling rig off the coast of Beirut. EPA

Lebanon starts search for offshore oil and gas


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Lebanon's long-awaited exploratory drilling for offshore oil and gas was set to begin on Thursday, 10 months after a landmark US-mediated agreement that demarcated its maritime border with Israel.

French oil giant TotalEnergies is leading the consortium drilling at an area called Block 9, along with Italian company ENI and state-owned QatarEnergy.

Lebanon's political leadership has pinned its hopes on potential hydrocarbon reserves as a source of foreign currency for the cash-strapped nation. Lebanon is grappling with unparalleled financial turmoil and its currency's value has plummeted by more than 98 per cent against the dollar since in 2019, pushing 80 per cent of the population into poverty.

“After 67 days, we will know the results of this drilling. We hope it will bring good things for the Lebanese,” caretaker Energy Minister Walid Fayad said in a statement published on Tuesday by the state-run National News Agency.

His statement followed a visit to the drilling rig that was moved into position about 120km off the Lebanese coast on August 16. Mr Fayad, Parliament Speaker Nabih Berri, caretaker Prime Minister Najib Mikati and caretaker Minister of Public Works Ali Hamieh were flown to the rig aboard a helicopter provided by TotalEnergies.

“This exploration well will allow us to assess the materiality of hydrocarbon resources and production potential in the area,” said Romain de La Martiniere, TotalEnergies’ general manager in Lebanon.

Mr Mikati said after a meeting with TotalEnergies senior officials on Tuesday that the start of drilling was a beacon of hope for the country “to provide additional resources for Lebanon to help rise from the current crises”.

“Everyone should set personal interests and considerations aside and handle the project as an achievement that serves all the Lebanese alike, especially in its capacity as a fundamental pillar for the advancement of the national economy,” he added.

Meanwhile, on Thursday, it was announced that a 3D survey of an offshore area known as Block 8, which neighbours Block 9 to the west, would commence soon.

British firm Geoex MCG and Egyptian company Brightskies Geoscience will undertake the operation under the authority of the energy ministry, in an area of around 1,400 square kilometres.

“The geophysical survey is designed to leverage newfound optimism in the country’s hydrocarbon potential” in the wake of the activities in Block 9, Geoex said.

The survey will start this year, with results expected in the first quarter of 2024.

Lebanon's maritime border agreement with Israel, with which it is still technically at war, followed a decade of US-led efforts to settle a dispute over the potentially abundant oil and gas reserves claimed by both countries.

It was an unprecedented understanding between two enemy states, amid negotiations that at one point risked spilling over into conflict.

Hezbollah, the powerful Lebanese armed group that is particularly strong in southern Lebanon, has repeatedly engaged in conflict with arch enemy Israel.

Last summer it launched three unarmed drones towards the Karish gasfield, which was also at the time claimed by both Lebanon and Israel.

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Stan%20Lee
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THE SPECS

Engine: 3.6-litre V6

Transmission: eight-speed automatic

Power: 285bhp

Torque: 353Nm

Price: TBA

On sale: Q2, 2020

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Key recommendations
  • Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
  • Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
  • Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
  • More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

UAE currency: the story behind the money in your pockets
US%20federal%20gun%20reform%20since%20Sandy%20Hook
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GRAN%20TURISMO
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GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

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Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

THE DETAILS

Kaala

Dir: Pa. Ranjith

Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar  

Rating: 1.5/5 

Sunday's games

All times UAE:

Tottenham Hotspur v Crystal Palace, 4pm

Manchester City v Arsenal, 6.15pm

Everton v Watford, 8.30pm

Chelsea v Manchester United, 8.30pm

Janet Yellen's Firsts

  • In 2014, she became the first woman to lead the US Federal Reserve 
  • In 1999, she became the first female chair of the White House Council of Economic Advisers 

Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full

How Beautiful this world is!
TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

Updated: August 25, 2023, 7:50 AM