Lebanon has taken another step toward revitalizing its long-stalled offshore gas ambitions: On Jan. 9, the government approved a new exploration permit for a consortium led by France’s TotalEnergies, allowing work to begin on an offshore block along Israel’s maritime border.

The approval, formalized through an agreement signed with the French energy giant and partners including Italy’s Eni and QatarEnergy, arrives as Lebanon’s new government seeks to reengage international investors after years of economic collapse, political paralysis and conflict that have repeatedly derailed upstream plans.

For a country that has endured one of the world’s worst financial crises and crippling power shortages for years, offshore hydrocarbons have long been promoted as a potential lifeline as neighbors have cashed in on East Mediterranean gas discoveries. But repeated delays, security shocks and disappointing drilling results have stymied those ambitions. 

Details: In a press release, TotalEnergies announced that it had obtained government approval to enter the exploration permit for offshore Block 8, located off southern Lebanon. The move follows cabinet decisions taken in October to award the block to the consortium, making Friday’s signing largely procedural.