Energy Minister Nada Boustani launched Friday the second licensing round of Lebanon's offshore oil and gas exploration, approved by the cabinet on Thursday.
During a press conference, Boustani stressed that the goals of the second licensing round is to increase exploration in the Lebanese maritime waters, and enhance the element of competition among companies, noting that the final deadline for companies to submit their offers is on January 31, 2020.
The minister stressed that the Ministry and the Lebanese Petroleum Administration (LPA) are committed to all rules of transparency during the entire licensing round.
She also declared that offshore blocks 1, 2, 5, 8 and 10 are subject for bidding in accordance with updated procedures set by the Ministry and the Lebanese Petroleum Administration (LPA).