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...
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