The Lebanese Petroleum Administration (LPA) has announced a further postponement of the closing date for its ongoing second offshore exploration licensing round in response to the spread of COVID-19 worldwide. The new deadline is within 2021.
Given the implications of the spread of Coronavirus (COVID-19) worldwide, the Council of Ministers' announcement in April impacts on the course of the Second Offshore Licensing Round with regard to deadlines for International Oil Companies to undertake preparations to submit Licensing Round Applications. The Minister of Energy and Water decided to postpone the deadline for submission of applications to participate in Lebanon's Second Offshore Licensing Round.
On 31 May, a further precision of this announcement was made by the Minister of Energy and Water for Lebanon, Raymond Ghajar. The deadline for submitting applications for participation in the second licensing round for offshore Lebanon.
Based on the recommendation of the Petroleum Sector Management Authority, the Minister announced the aim to complete this round before the end of 2021.
Lebanon’s Council of Ministers approved the launch of the second offshore licensing round, of which PGS is an official data provider, in April 2019. Acreage offshore Lebanon comes with the reassurance of proven hydrocarbon plays and recent discoveries in the vicinity.
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