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May 12, 2020
The Council of Ministers approved a decree that allows companies wishing to take part in the second offshore licensing round to submit licensing round applications by hand – using a sealed package containing all required statements and documents - or through the Internet via a secure and safe Online Submission mechanism based on Law 81/2018 the Electronic Transactions and Personal Data Law. It must be noted that since the start of the petroleum sector in Lebanon, the Ministry of Energy and Water has relied on a scientific, technical and legal approach and abided by transparent measures and procedures throughout the development phases of the sector. In the petroleum industry it is the science, studies and exploration activities that confirm the existence or the absence of hydrocarbon resources in the Lebanese offshore, knowing that the exploration path is a long term one which includes several milestones. Most importantly the probability of success is low at the beginning of the exploration path as hitting a discovery requires drilling many wells and the international experience has proven that the success rate is one out of three or four wells drilled during the exploration phase. Read more