Lebanon launches offshore bid round. The blocks on offer are 1, 2, 3, 5, 6, 7, 8, and 10. At Petex, Lebanon has launched its second offshore bid round, lowering a number of hurdles in a bid to attract new investors.
The Lebanese Petroleum Administration (LPA) set out the plan in a last-minute arrival at the Petex conference, held this week in north London.
The round covers the eight blocks still available. Lebanon licensed Blocks 4 and 9 in 2018 to TotalEnergies, Eni, and Novatek. The companies drilled one well in Block 4 with a second on Block 9 being planned during 2022.
A presentation from the LPA at the conference showed the blocks had 2D seismic data and 80% coverage under 3D seismic.
Lebanon’s cabinet approved the second offshore round in April 2019. Launch plans were delayed and then COVID-19 disrupted plans.
The closing date for the second round is June 15, 2022.