The Council of Ministers approved a decree that allows companies wishing to take part in the second offshore licensing round to submit licensing round applications by hand – using a sealed package containing all required statements and documents - or through the Internet via a secure and safe Online Submission mechanism based on Law 81/2018 the Electronic Transactions and Personal Data Law.
It must be noted that since the start of the petroleum sector in Lebanon, the Ministry of Energy and Water has relied on a scientific, technical and legal approach and abided by transparent measures and procedures throughout the development phases of the sector.
In the petroleum industry it is the science, studies and exploration activities that confirm the existence or the absence of hydrocarbon resources in the Lebanese offshore, knowing that the exploration path is a long term one which includes several milestones. Most importantly the probability of success is low at the beginning of the exploration path as hitting a discovery requires drilling many wells and the international experience has proven that the success rate is one out of three or four wells drilled during the exploration phase.
As for exploration activities in Block 4, the exploration well targeted one geological prospect at a specific depth according to the study carried out by the Right Holder Operator, noting that the 10 offshore blocks contain about 60 different prospects that can be targeted in future exploration activities.
As we previously announced, the results obtained so far from the drilling of the first exploration well confirm the existence of a petroleum geological system in the Lebanese offshore with the presence of traces of gas, however the first exploration well did not realize a discovery. We are awaiting the results of the samples analysis taken from the well and which the companies forming the consortium are analyzing. These samples are considered highly valuable in relation to the added information they provide for the drilling path in block 9 and in other blocks.
After conducting seismic surveys in the Lebanese maritime waters, Lebanon has done its first actual step in the course of the exploration path by completing drilling the first well in its maritime waters, in the objective to intensify exploration activities that lead to discoveries.