Le­banon opens oil, gas li­cens­ing round

Business monthly (Egypt) - - REGION NOTES -

Af­ter a three-year de­lay, Le­banon fi­nally an­nounced plans to re­open its first oil and gas pro­duc­tion li­cens­ing round. Five off­shore blocks in the east­ern Mediterranean will be open for bid­ding, Le­banon’s en­ergy min­is­ter Ce­sar Abou Khalil told re­porters on Jan. 26. Bid­ding was orig­i­nally sched­uled to take place in 2013 but was de­layed due to Le­banon's po­lit­i­cal cri­sis. Ini­tial reg­u­la­tions were not signed, and then, with no pres­i­dent for more than two years, the en­tire process was put on hold un­til early last month. The 46 com­pa­nies that were qual­i­fied to bid four years ago will re­main el­i­gi­ble for the auc­tion, Khalil said, and ad­di­tional com­pa­nies will have un­til the end of March to ap­ply. Bid­ding will take place in mid-Septem­ber. Ac­cord­ing to Reuters, three of the five blocks opened for bid­ding abut a dis­puted mar­itime bor­der with Is­rael.

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