Oil & Gas articles

A roadmap for 2018

A roadmap for 2018

This article was originally published in print on February 2, 2018 as part of Executive’s special report on oil & gas. At the end of January, Lebanon signed oil and gas Exploration and Production Agreements (EPA) with a consortium of companies composed of France’s Total (as operator), Italy’s Eni, and Russia’s Novatek. The consortium had

Q&A with LPA

Lebanon is approaching a milestone nearly eight years in the making. In December, cabinet awarded two separate exploration licenses to a consortium of three companies: France’s Total (the operator), Italy’s Eni, and Russia’s Novatek. Contracts were signed at the end of January, leaving the consortium and the government about one year for preparatory work ahead

One eye open

In the midst of Lebanon’s first offshore oil and gas licensing round, the Lebanese Oil and Gas Initiative (LOGI), an independent NGO aiming to develop a network of Lebanese oil and gas experts, commissioned a study about the 52 companies that had prequalified to bid. This research allowed LOGI to evaluate the companies based on

Environmental impact

Five years ago, Lebanon was ready to invite companies to explore for oil and gas offshore. A law organizing offshore exploration had been passed, an environmental study—known as a Strategic Environmental Assessment (SEA)—to study and mitigate the effects of exploration on the environment had been prepared, a regulator had been appointed, and the bid round

Lebanon’s O&G wealth

Lebanon signed oil and gas exploration contracts on January 29, and officials hope to one day save and invest proceeds from selling and taxing the resources, if commercial quantities are found. It could take time to find oil and gas deposits off the coast of Lebanon, and even more time to extract and bring them

Saving us from ourselves

Along the coastal highway in Batroun, north of Beirut, is a billboard that reads “Lebanon is now an oil producer.” For now, that is optimism, not reality. Offshore wells will not be drilled before 2019, and until they are, the extent of Lebanon’s oil and gas reserves—if they exist—will remain unknown. But with an answer

Transparency cookies are in the oven

The tools to monitor Lebanon’s hoped for oil and gas sector are nearly on the workbench. In January, the government committed itself to joining a global transparency initiative, and in March, a draft law promoting the future sector’s transparency was finally shown to the public. Taken together, they could help Lebanon build a clean oil

Maximizing oil and gas potential

In an effort to maximize the benefits for the local economy from the oil and gas industry, the Lebanese Petroleum Administration (LPA) has included provisions in the model exploration and production sharing agreements to help domestic companies. The contracts state that when oil and gas companies need to procure goods, they must give preference to

Investment expectations

Walid Nasr’s eyes rolled so far back his head, Executive worried he was having an episode. The Lebanese Petroleum Administration (LPA)’s head of strategic planning was clearly disappointed. Only a few moments into an event organized by the Lebanese Forces, the emcee had wasted no time in estimating the value of Lebanon’s undiscovered offshore oil

Russian expansionism

There’s no shortage of headlines about Russia’s grand design for the East Mediterranean gas resources. An unrealistic understanding of the strategic significance of these resources and the role they could play in weaning Europe away from Russian gas fuels these claims. In reality, we have yet to see a Russian breakthrough in the upstream oil

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