Oil Date in April

"Total Energies" has postponed the start date for drilling in Lebanese territorial waters from early 2023 to next spring, without providing an official explanation for the delay. This raises a series of questions about whether the postponement is due to the presidential vacuum that grips internal politics amid a caretaker government characterized by conflicts among all parties. Does the delay of the French company in drilling indicate that the election of a president will not happen in the near future? Oil expert Rabi Yaghi denied through "Al-Markazia" that "Total Energies" has delayed the drilling process, stating that "they are supposed to start drilling in early April 2023." He also refuted "any connection between the company’s operations and the election of a president or prime minister... The company has had a contract with the Lebanese government since 2017, and it is currently implementing its provisions," considering that "the presidential vacuum is purely an internal issue that does not affect the work of 'Total' or others in technical operations." Yaghi clarifies that "before starting the drilling and exploration process, there is a logistical preparation period of between three to five months. The critical issue is that 'Total Energies' needs to obtain a drilling ship since their numbers are globally rare, especially since most are reserved under pre-signed contracts with several countries. Therefore, the French company is waiting for a ship whose contract has expired to bring it to Lebanese waters." He points out that "if the delay persists beyond spring 2023, it may be due to 'Total' still not securing a drilling ship, which is rented monthly, daily, and hourly, with rental values currently reaching 450,000 dollars a day. Hence, drilling ships in deep waters and offshore are like rare currency." He concluded by urging the relevant parties, such as the Ministry of Energy and Water and the Oil Sector Management Authority, to "act within a comprehensive plan and vision for the future and involve 'Total Energies' in their operational decisions such as exploration, development, and evaluation programs... The Lebanese side must have a voice and stance to avoid any additional future delays, as time is against Lebanon, especially with Israel beginning production and export while Lebanon has not yet started exploration... unfortunately."