Offshore exploration could soon be on the agenda in Lebanon after the country's Prime Minister Tamam Salam was asked to place what would be the first licensing round on the agenda of cabinet meetings as soon as possible.
The intention is to open up the offshore blocks to tender and ultimately award two or three blocks, depending on the quality of the offers which are received, says geoscience firm Spectrum.
The next step in re-starting Lebanon’s First Licensing Round is for the Lebanese government to approve two pending decrees, one delineating the Lebanese offshore area into 10 blocks and the second setting out the tender protocol and the model exploration and production agreement (EPA) to be signed between the government and successful bidders.
