Lebanon’s oil & gas sector

ENAR

  Lebanon is finally stepping into the exploration phase. The Council of Ministers approved the awarding of exploration and productions licenses mid-December to a consortium made of France’s Total, Italy’s Eni and Russia’s Novatek. Contracts are expected to be signed in January 2018. Given the context that surrounded the organization of Lebanon’s first offshore licensing round, the result can be considered a success. A lot of hard work was needed to overcome the numerous obstacles that stood in the way since 2013. On the other hand, expectations were so poorly managed during the previous years that many in Lebanon are not aware that the country was only at the pre-licensing phase. A more measured and realistic approach is advisable for the next phase. What can Lebanon expect in 2018 Local legislation requires companies to establish a legal presence in Lebanon that is appropriately staffed and authorized to carry out rights