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The Lebanese Petroleum Administration (LPA) confirmed in late July that a second bid round would commence by end-2018.
According to a ‘tentative timeline’, offshore contracts will be signed 12 months after launching the tender. If the energy ministry can indeed meet this timeline, it would certainly be a break with precedent.
Lebanon’s first bid round fell victim to the country’s byzantine political scene wherein straightforward laws are held hostage – sometimes for years – to ‘grand bargains’ between the country’s political oligarchs.
The first bid was originally mooted in 2003 ( MEES, 3 February 2003 ), finally kicked off in late 2012 ( MEES, 4 January 2013 ) and, having fallen prey to a lengthy political crisis, only closed in October 2017 ( MEES, 20 October 2017 ). (CONTINUED - 726 WORDS)