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FIRST OFFSHORE LICENSING ROUND RESULTS


On the 14th of December 2017 the Council of Ministers approved the awards of two exclusive petroleum licenses for exploration and production in blocks 4 and 9 for the consortium composed of Total S.A, Eni International BV and JSC Novatek.

To pave the way for the approval of the exclusive petroleum rights to the Consortium, a clear procedure took place as per the published legislative framework governing petroleum activities in Lebanon.

The presentation below details the procedure and the outcomes of Lebanon’s First Offshore Licensing Round. Click here to download the presentation.

In this regard, the presentation outlines the evaluation process of the commercial and technical offers as per the Tender Protocol (TP). The presentation also describes the results of the technical negotiations, and assesses the two offers in light of the licensing round’s strategic objectives that were previously defined.

The presentation concludes with a highlight of the next steps with respect to the development of the petroleum sector in Lebanon. Namely, the next stages include the signature of the EPAs between the Minister of Energy and Water and the Consortium by the beginning of 2018, and the start of the exploration phase upon the presentation and approval of the exploration plan for each block.

In turn, drilling activities in blocks 4 and 9 will start in 2019 after the Consortium finalises the needed logistics and studies throughout 2018.










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