The Minister of Energy Cesar Abi Khalil at the recommendation of the Lebanese Petroleum administration postponed the deadline of submission of the first licensing round from September 15th till October 12th.
The Ministry of Energy is hoping that during this time the Lebanese Parliament will approve the important Tax Law for Petroleum Activities during its next session on September 19th. This approval is pending since several months due to the parliament other priorities among them the new legislative election law and the public sector salary scale bill.
The different parties forming the parliament expressed the importance of finalizing this pending law, which will help the companies participating in the Licensing Round to submit accurate bids.
This law is the final pending legislation for a successful Licensing Round.
Several oil majors expressed their interest in the participation in the Licensing Round and in exploring the promising Lebanese Offshore.