25 Jan, 2019
OSLO, Norway - by: Offshore staff PGS expects Lebanon to open its second offshore licensing round this month, with the window for pre-qualification remaining open until April. The round will last for 12 months, culminating in the award in December of exclusive petroleum rights to explore and develop new hydrocarbon resources offshore Lebanon.   Pre-qualification results will likely be announced in May, followed by a five-month period for the submission of bids, and subsequent assessment in November by Lebanon’s Council of Ministers.   PGS has supported [...]
28 Jan, 2019
Summary / by: Matthew J. Bryza At beginning of this decade, natural gas prospects in the Eastern Mediterranean generated geopolitical optimism about potential new patterns of regional cooperation that might catalyze a Cyprus settlement, improve Arab-Israeli relations, and provide new gas supplies for Turkey and the EU. Natural gas projects do indeed appear to be reinforcing new strategic triangles among Israel, Cyprus, and Egypt as well as Israel, Cyprus and Greece. Turkey, however, risks being left out of the strategic mix. [...]
20 Jan, 2019
Eastern Mediterranean’s energy ministers meeting in Cairo on January 14 has resulted in a turning point announcement for the region’s energy industry. Seven officials representing Egypt, Cyprus, Greece, Israel, Italy, Jordan and Palestine agreed to establish the East Mediterranean Gas Forum (EMGF) with the aim to expedite the development of hydrocarbon resources in the East Med, and transform the region into an energy hub. EMGF will be based in Cairo and will be open to new members joining in the [...]
05 Jan, 2019
The start of 2019 kicks-off with a set of consecutive deadlines and commitments for Lebanon’s Offshore O&G sector. Earlier in 2018, the Lebanese Government has licensed two offshore blocks (4 & 9) to an international consortium led by French giant Total, Italy’s ENI and Russian Novatek. Yet, the work of the Ministry of Energy & Water (MEW) as well as the Lebanese Petroleum Administration (LPA) did not end at that stage, and the negotiations with the winning consortium started since [...]
26 Dec, 2018
This year saw the translation of international oil companies’ interest in the Eastern Mediterranean—following the discovery of Zohr, in Egypt, in 2015—into concrete projects, and the confirmation of the region’s potential, with a new and promising discovery in Cyprus. Egypt received its final liquified natural gas (LNG) shipment in September and is aspiring to become a regional gas export hub, following an impressive increase in production and the signing of agreements that could see the transport of gas from neighboring [...]
15 Sep, 2018
Preparations for the launching of Lebanon’s second offshore oil and gas licensing round have begun. The regulator, the Lebanese Petroleum Administration (LPA), has published a tentative timeline for the tender, which will be officially launched at the end of 2018. The process, including the pre-qualification phase, will extend over a period of one year. The second licensing round is scheduled to start in January 2019 with the opening of the pre-qualification round. The legal, technical, commercial, and QHSE (Quality, Health, Safety & [...]
01 Aug, 2018
By Roudi Baroudi: Given the fact that that the two sides do not have diplomatic relations and have been, legally speaking, at war since 1948, resolving this dispute was always going to be a challenge. For months, Lebanon and Israel have been at a historic crossroads over how to settle their maritime boundary dispute. Although their competing claims concern a patch of water of less than 900 square kilometers, it is the potential reserves of oil and, especially, natural gas worth [...]
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Cogico SARL
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