Lebanese government has extended a deadline for the submission of bids in the country’s first offshore oil and gas licensing round by four weeks.
Lebanon’s Minister of Energy and Water, Cesar Abi Khalil , issued the decision last week, extending the applications submission deadline from September 15 to October 12, 2017.
The decision to extend the deadline was based on the recommendation of the Lebanese Petroleum Administration (LPA), a regulatory body in charge of managing the petroleum sector in Lebanon.
In January this year, Lebanon approved two decrees that were crucial for the completion of the first offshore licensing round, stalled since 2013 due to a political turmoil. The decrees outlined conditions related to the licensing round and the exploration and production model agreement. As part of the round, the country offered five offshore blocks for bidding for oil and gas exploration. The blocks included in the round were Block 1, 4, 8, 9, and 10.
After the pre-qualified companies submit their bids on the open blocks, the evaluation of the bids and the signature of the exploration and production agreements (EPAs) will follow on November 15, 2017.
Offshore Energy Today Staff