{"id":5159,"date":"2017-01-27T13:13:11","date_gmt":"2017-01-27T11:13:11","guid":{"rendered":"http:\/\/www.onisilos.gr\/?p=5159"},"modified":"2017-01-27T13:13:11","modified_gmt":"2017-01-27T11:13:11","slug":"lebanon-re-launches-first-oil-and-gas-licensing-round","status":"publish","type":"post","link":"https:\/\/www.onisilos.gr\/?p=5159","title":{"rendered":"Lebanon re-launches first oil and gas licensing round"},"content":{"rendered":"

26 Jan 2017<\/b><\/span><\/p>\n

Lebanon<\/i><\/b> re-launched its first oil and gas licensing round<\/i><\/b> after a three-year delay, the energy minister said on Thursday, kick-starting the development of a hydrocarbon industry stalled by national political paralysis.<\/span><\/p>\n

Lebanon has opened five offshore blocks – Blocks 1, 4, 8, 9 and 10<\/i><\/b> – for bidding in a first licensing round, Minister of Energy and Water Cesar Abou Khalil told a news conference.<\/span><\/p>\n

In 2013, 46 companies qualified to take part in bidding for oil and gas tenders, 12 of them as operators, including Chevron, Total and Exxon Mobil.<\/span><\/p>\n

But political paralysis, which left Lebanon without a president for more than two years, meant the licensing process was put on hold.<\/span><\/p>\n

Abou Khalil said a second pre-qualification round for companies interested in exploration and production contracts would be launched soon.<\/span><\/p>\n

The re-launch of the licensing round follows the passing of two decrees by Lebanon’s new government earlier this month<\/i><\/b><\/a> concerning oil and gas exploration blocks, meaning a tender process for offshore reserves, stalled since 2013, can begin.<\/span><\/p>\n

Beirut estimates it has 96 trillion cubic feet of natural gas reserves and 865 million barrels of oil offshore, but squabbling between parties has prevented it from kick-starting exploration and development of the sector.<\/span><\/p>\n

The decrees define the blocks and specify conditions for production and exploration tenders and contracts.<\/span><\/p>\n

Source:http:\/\/www.energy-pedia.com\/news\/lebanon\/lebanon-re-launches-first-oil-and-gas-licensing-round-169738<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

26 Jan 2017 Lebanon re-launched its first oil and gas licensing round after a three-year delay, the energy minister said on Thursday, kick-starting the development of a hydrocarbon industry stalled … <\/p>\n

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