DUBAI: A consortium working for Lebanon’s first-ever offshore exploration well has finished drilling work at the site but initial results indicate a ‘negative result’ in the block. “Total E&P Liban has completed the drilling of Byblos well 16/1 on Block 4 to a depth of 4,076 meters,” state news agency NNA reported. The joint venture between Total and ENI – who owns a 40 percent stake separately – and Novatek, which controls the remaining equity, operate the well located 30 kilometers offshore Beirut and was drilled in a water depth of approximatively 1,500 meters. “We are satisfied to have drilled the first ever exploration well in the Lebanese offshore domain, according to the initial program. We thank the Ministry of Energy and Water and the Lebanese Petroleum Administration for their invaluable support notably to overcome the challenge resulting from the Covid-19 crisis. Despite of the negative result, this well has provided valuable data and learnings that will be integrated into our evaluation of the area,” said Ricardo Darré, the managing director of Total E&P Liban. The well exploration penetrated the entire Oligo-Miocene target section, where evidence traces of gas confirmed the presence of a hydrocarbon system. However, it did not encounter any reservoirs of the Tamar formation, which was the target of the exploration well. Based on the data acquired during drilling, studies will be conducted to understand the results and further evaluate the exploration potential of the Total operated JV blocks and for offshore Lebanon, the report added.