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Lebanon looking to start offshore gas drilling by 2015

: Saturday, April 12 - 2014 @ 01:19

Lebanon is to allow international energy companies to start drilling for gas off the country’s coast at the end of next year, if the August auction date is met, The Daily Star has reported, citing a source familiar with the tender process. “If the ministers approve the decrees that set the number of blocks [areas designated for drilling] and explain the mechanism of revenue sharing this month or early next month, then the companies will have ample time to make their bidding on August 14,” said the source. “If everything goes according to plan, international oil companies can start the actual drilling at the end of 2015 or at the beginning of 2016 at the latest,” the source told the daily.

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Saturday, April 12- 2014 @ 1:19 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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