Exploration & Production

Lebanon licensing round schedule hinges on tax law

A parliamentary vote next week will determine the timeline for Lebanon’s long-awaited licensing round A parliamentary vote next week will determine the timeline for Lebanon’s long-awaited licensing round.
By Verity Ratcliffe 15 September 2017 0 27585
Parliamentary address by Michel Aoun, president of Lebanon Lebanese President Michel Aoun addresses the country’s parliament. (PA)

IOCs wanting to explore Lebanon’s offshore acreage will be holding their breaths next week as parliament decides whether to approve the country’s updated petroleum tax law. The law needs parliamentary approval before Lebanon’s repeatedly delayed first licensing round can go ahead.

“Next week’s session can be seen as an indicator of whether the political class intends to facilitate the process or not,” Mona Sukkarieh, a political risk consultant and co-founder of Middle East Strategic Perspectives, told Interfax Natural Gas Daily

The deadline for bids to explore the blocks...