Two Oil Majors Submitted their Bid for the Lebanese Licensing Round

Total and  ENI along with Novatek submitted in one consortium their bid in the First Lebanese Licensing Round.

The consortium submit its bid on two offshore blocks, 4 and 9.

Lebanon relaunched the licensing round for five offshore blocks (1, 4, 8, 9 and 10) in January after a three-year delay due to political paralysis.

The single bid is presently under evaluation by the Lebanese Petroleum administration, which will send its recommendation to the minister of energy Eng. Cesar Abi Khalil. The minister on its turn will relay it to the council of ministers for final approval.

Lebanon is hoping to make its first award by the end of the year.