EAGE: Stall continues for Lebanon licensing round

Lebanon’s Petroleum Administration (LPA) awaits government action to finalize the country’s licensing round announced Apr. 18, 2013. A spokesman from Petroleum Geo-Services (PGS) represented the Lebanon’s Petroleum Administration in absentia at the European Association of Geophysicists & Engineers’ annual conference on June 17.

The country has delineated 10 blocks, five of which are offered in the tender, although the act has not been ratified by Lebanese officials. In addition, the final versions of the country’s exploration and production agreement have not been decreed.

“The country currently has no president serving in office,” the spokesman said. On May 24 President Michel Suleiman’s 6-year term expired and the Lebanese Parliament failed to appoint a successor. The political situation in Lebanon has cast a shadow over specific timelines for the country’s bid round.

To date, 12 operators have been prequalified to bid along with 34 nonoperators. Companies await final decrees, and the bidding period is slated to end in August. Interest in the region is primarily driven by recent offshore discoveries in Israel (OGJ Online, Dec. 4, 2013) and Cyprus (OGJ Online, Oct. 4, 2013). Early contestants for Lebanon’s first licensing round expect this discovery trend to continue offshore the country. LPA plans to announce awards in November, although delays could be imminent if the political situation remains unchanged.

Contact Tayvis Dunnahoe at tayvisd@ogjonline.com.

Related Articles

Maersk to divest oil field, write off $1.7 billion in Brazil assets

07/08/2014 Maersk Oil, a wholly owned subsidiary of AP Moller-Maersk AS of Copenhagen, has opted to write off $1.7 billion in investments in Brazil’s Wahoo an...

Shell bows out of Kidan gas project in Saudi Arabia

07/08/2014

Royal Dutch Shell PLC confirmed it will bow out of the Kidan natural gas development project in Saudi Arabia’s Empty Quarter.

Mongolian petroleum law passage aims to boost foreign investment

07/08/2014

Wolf Petroleum Ltd., Perth, reported the passing of a new petroleum law in Mongolia designed to boost foreign investment in the country.

Wintershall to farm in to Luno II lease offshore Norway

07/07/2014 Wintershall Norge AS has agreed to acquire 15% interest in production license 359 (PL359), which encompasses the Luno II discovery, from Lundin Nor...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected