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Lebanon's oil and gas licence round launched
- Lebanon: Wednesday, May 01 - 2013 at 05:25
Lebanese caretaker energy minister Gebran Bassil has announced the launch of the country's first licensing round for hydrocarbons exploration, as officials admitted that a failure to form a new cabinet could delay the process, The Daily Star has reported. "In order not to lose more time, we have decided to launch the first licensing round in the same day approved by the council of ministers," Bassil said. "But if the decrees were not issued [by a new] cabinet before September 2013, we will have to delay the bid like what happens in many countries," he added. The minister also said that seismic surveys are increasingly showing high prospects of oil discoveries on Lebanon's offshore, in addition to natural gas, with initial estimates set around 145 million barrels of oil.
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