Exploration & Production

Lebanon’s licensing round result poses dilemma

Lebanon received only two bids in its long-delayed licensing round, leaving a choice between pushing on or delaying the process even further Lebanon received only two bids in its long-delayed licensing round, leaving a choice between pushing on or delaying the process even further.
By Verity Ratcliffe 17 October 2017 0 27997
An Eni offshore platform. An Eni offshore platform. (Eni)

The muted reception to Lebanon’s offshore licensing round is forcing Beirut to make a tough choice. The Lebanese Petroleum Administration (LPA) received just two bids on its five available blocks – both from a consortium of Total, Eni and Novatek. The consortium submitted one bid each for blocks 4 and 9.

“We have one bidder in Block 4 and one bidder for Block 9 and now we are studying the offers to see if they are relevant or not,” Nasser Hoteit, head of the LPA’s Technical...