Lebanon Cabinet Approves Qualifying Round for Energy Exploration
By Nayla Razzouk
Lebanon approved conditions for companies to bid in the nation’s first offshore oil and natural gas licensing round as it seeks to catch up with neighbors Israel and Cyprus in developing fuel reserves.
The decision was made today at a weekly cabinet meeting, Information Minister Walid Daouk told reporters after the session in Beirut.
Royal Dutch Shell Plc, Cairn Energy Plc and Cove Energy Plc are among companies expressing interest in bidding for a license. OAO Lukoil is interested and is holding talks on possible Lebanese offshore projects, Interfax said Jan. 23, citing CEO Vagit Alekperov.
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