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Lebanon will again delay the deadline for oil and gas firms to bid for offshore exploration.
Lebanon’s Energy Ministry says bidding for offshore blocks will close on 14 August, but politics will inevitably push the bid round back to 2015.
The country remains in the grip of unyielding political deadlock that will persist for the foreseeable future. Meanwhile, both the Petroleum Administration – tasked with managing the bid round – and the cabinet committee set up to re-evaluate decrees governing offshore blocks and fiscal terms have essentially halted work, MEES understands. No further progress is expected until Lebanon’s parliament elects a new president and a new government is subsequently established, both distant prospects in the current political climate. (CONTINUED - 651 WORDS)
DATA INSIDE THIS ARTICLE
|table||Lebanon Bidding: Pre-Qualified Operators|