TotalEnergies' exploration impact: A brighter future for Lebanon?

At the end of October, TotalEnergies is expected to announce whether there is a gas and petroleum reservoir in the well being drilled in Block No. 9. In December, TotalEnergies is expected to tell whether the discovered quantities are commercially viable.

Thus, if the discovered quantities are commercial, Lebanon's immediate benefits will be as follows:

First, this discovery will encourage international companies to participate in the second licensing round for the remaining blocks because they will be assured of the extension of the geological layer containing these resources to other blocks. This will compel the Lebanese authorities to ensure political and economic stability to secure these investments.

Second, this discovery will lead to an upgrade of Lebanon's credit rating, with all the economic and financial implications that come with it, and initiate the process of restoring international financial engagement with the market, banks, and international financial institutions.

Third, this discovery will increase the state's assets, which will be highly valued. This will allow the country to engage with global markets and financial institutions, with guarantees that enable it to negotiate with these markets and institutions more effectively. It will also lead to higher financial revenues for the country.

Fourth, the announcement of a commercial discovery will increase job opportunities and introduce new jobs into the market, especially as companies will be established to keep pace with the development and operation of Lebanon's gas and oil sector.