Three companies submit bids for first Lebanese license round

A consortium of three companies has applied for blocks 4 and 9 under Lebanon’s first offshore licensing round, ahead of last week’s deadline.

Offshore staff

BEIRUT, Lebanon – A consortium of three companies has applied for blocks 4 and 9 under Lebanon’s first offshore licensing round, ahead of last week’s deadline.

The companies are Total, Eni International BV, and JSC Novatek.

The Lebanese Petroleum Administration will evaluate the technical and commercial offers according to the methodology outlined in the tender protocol published in Decree 43/2017, and present its findings to the Minister of Energy and Water by Nov. 13, 2017.

Thereafter, the minister will submit the results of the full evaluation process to the Council of Ministers to take the final decision with respect to awarding blocks and signing the exploration and production agreement(s) (EPA) with the winning consortium.

The exploration phase will start upon the signature of the EPA and will last up to five years, with potential for a one-year extension.

10/16/2017

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