The Lebanese Cabinet approved on 4 January 2017 the re-launch of Lebanon’s first offshore licensing round for oil and gas exploration and confirmed that, based on a study completed by the LPA, 5 blocks would be open for bidding during the first licensing round.
The Minister of Energy and Water in Lebanon, Cesar Abou Khalil, also announced a new prequalification round, which was designed to allow additional companies to join those who prequalified to take part in the bidding process for the first licensing round in 2013 (www.lpa.gov.lb).
The results of the pre-qualification were announced on 26 April 2017 and all approved companies will be invited to submit bids for the open blocks by 15 September 2017. ERCL will be supporting the Lebanese Ministry in this process.
Huw Edwards, Director at Getech Group plc and ERCL, commented; “ERCL initially commenced work with the Ministry of Energy & Water (MEW in October 2010 with preparation for this first license round and we are delighted that with the re-launch our work supporting MEW and the LPA will continue through to the conclusion of the license round, towards the end of 2017. The blocks on offer look very prospective and have been well received by the prequalified companies.”
The Getech Group has a long history of assisting Governments and National Oil Companies with License Rounds, Data Management, Capacity Building and Advisory services all over the world to develop their nation’s natural resources.