As part of Lebanon’s Second Offshore Licensing Round’s promotional efforts, the Lebanese Petroleum Administration under the patronage of the Minister of Energy and Water, organised a consultation workshop for International Oil Companies (IOCs) on the 23rd of July in Beirut.

The objective of this workshop was to introduce all the details related to the Second Offshore Licensing Round including the Tender Protocol, the Model Exploration and Production Agreement and the timeline.

H.E. Minister of Energy and Water Nada Boustani provided a speech stressing on Lebanon’s commitment to develop the sector in a manner conducive to transparency and investment-friendly opportunities. Boustani also emphasised on regional collaborations with respect to identifying and developing common infrastructure projects.

In turn the LPA provided several presentations including an overview of the sector’s updates and a highlight of the second round’s main features. More specific presentations were delivered targeting Lebanon’s offshore geology and prospectivity, the procedure with which to submit applications, the evaluation methodology and the contractual and HSE frameworks’ main characteristics.

The consultation workshop brought together foreign embassies representatives, and IOCs potentially interested to take part in Lebanon’s Second Offshore Licensing Round in addition to Right Holders already awarded Exploration and Production Agreements in the previous round.

The Second Offshore Licensing Round is scheduled to be completed by the end of January 2020. Interested companies that hold the necessary qualifications are invited to form a consortium of at least three companies each and to submit their licensing round applications before the bid closure day.