French oil giant TotalEnergies said on Monday that it will launch its drilling operations off the Lebanese coast in the first quarter of 2023, following the landmark maritime deal between Lebanon and Israel in October.

Energy Minister Walid Fayad met with a delegation from TotalEnergies to discuss those plans, the Lebanese government said.

Fayad and TotalEnergies chairman and CEO Patrick Pouyanne met at the company’s headquarters outside of Paris to discuss energy exploration plans in Lebanon’s Block 9 in the eastern Mediterranean Sea. The following are some takeaways from the meeting, according to a TotalEnergies press release:

• TotalEnergies expects to select a drilling rig in the first quarter of 2023. 
• The environmental studies phase of the project will be finalized by the end of June 2023. 
• TotalEnergies has placed preorders for equipment needed for the energy exploration. 
• The Block 9 energy exploration team will be based in Beirut.
• TotalEnergies and its partner, Italy’s Eni, plan to “complete the drilling as soon as possible in 2023."

Why it matters: Lebanon has been eyeing energy exploration in the eastern Mediterranean for years, but was held up by a maritime border dispute with neighboring Israel. In October, Israel and Lebanon reached a historic agreement on their sea border, brokered by the United States since Israel and Lebanon do not have formal relations. The agreement specified that Lebanon could drill in Block 9 and also reportedly stipulated that Israel is entitled to a percentage of Lebanon’s future energy profits from the area.