(Alliance News) - Eni and TotalEnergies have completed the transfer to QatarEnergy of a 30 percent stake in exploration blocks 4 and 9, off the Lebanese coast.

The transfer agreement was signed on Sunday in Beirut, in the presence of Lebanon's Prime Minister Najib Mikati, Lebanon's Minister of Energy and Water Walid Fayad, QatarEnergy's chairman and CEO and Minister of State for Energy Affairs of Qatar, Saad Sherida Al-Kaabi, Eni's CEO Claudio Descalzi, and TotalEnergies CEO Patrick Pouyanné.

With this transfer, Eni will hold a 35 percent stake, QatarEnergy 30 percent, and TotalEnergies, as operator, the remaining 35 percent.

"The transaction reinforces Eni's strategic cooperation with QatarEnergy, partners in Qatar, Oman, Mexico, Morocco and Mozambique, and confirms its exploration interest in the Eastern Mediterranean," the company note reads.

Eni closed Friday's session in the green by 0.7 percent at EUR14.29 per share.

By Maurizio Carta, Alliance News reporter

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