LATEST NEWS
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 [...]
31 July, 2018
 
SECOND LICENSING ROUND: On the 17th of May 2018, the Council of Ministers (CoM) approved the recommendation of the LPA to undertake the preparations for a second offshore licensing round scheduled to be officially launched by the end of 2018. Lebanon has successfully completed its first offshore licensing round that resulted in the award of two licenses in blocks 4 and 9 earlier this year. The aim of the second licensing round is to build on [...]
27 June, 2018
 
Lebanon and Israel have been feuding over an 860-sq km disputed area that extends along the edge of three of the 10 blocks that form Lebanon’s exclusive economic zone (EEZ), with both parties staking their claim to the oil-rich surface. A partial deal over the delicate Lebanese-Israeli maritime dispute could be set up this year after new ideas were proposed by a U.S led back-channel mediation mission, Israel's Energy Minister told Reuters. The area in question, which falls partially within Block 9, [...]
11 May, 2018
 
Bank Audi estimated that Lebanon will generate over $200 billion in net revenues from the promising offshore gas exploration, an income which would drastically reduce the public debt and stimulate the economy.   This estimation was part of Bank Audi’s fourth quarter report on Lebanon that covered the main economic activities for the entire 2017.   “Based on the current gas and oil prices and on the basis of Lebanon’s 96 trillion cubic feet of gas reserves and 865 million barrels of oil reserves, [...]
03 Jan, 2018
 
Lebanese placed further hope on Lebanon’s potential oil and gas wealth. On December 14 2017, Lebanon’s Cabinet approved the offers of a consortium of international oil companies to explore for natural gas in maritime blocks four and nine. France’s Total, Italy’s ENI and Russia’s Novatek will conduct extensive studies and surveys in 2018 and start actual exploration in 2019. Beirut's approval of a bid by a consortium of Russian, French and Italian energy companies will help the Lebanese economy overcome the present difficulties [...]
26 Dec, 2017
 
Last Thursday, Media flooded with the news of Lebanon’s cabinet approving the technical and financial terms for a bid for offshore energy exploration and production by the consortium of French Total, Russian Novatek and Italian Eni (actually, the only consortium submitting an offer) for blocks 4 and 9. After three idle years of wishful thinking, the first exploration and production licensing round relaunched in January this year. Lebanon expects the oil resource to procure contracts for local businesses, [...]
25 Dec, 2017
 
Once the Exploration and Production Agreement (EPA) is finalized between the government and the consortium for offshore exploration in blocks 4 and 9 of Lebanon's Exclusive Economic Zone, the country can expect to generate returns within three years of joining the hydrocarbon race in the Eastern Med. Last week, Lebanon’s Cabinet approved two bids by a global consortium of energy firms – comprised of France’s Total, Italy’s Eni and Russia’s Novatek – for offshore oil and gas exploration, capping off a [...]
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Cogico SARL
  Oil & Gas, Fuel
  01 808150
Wardieh Holdings
  Oil & Gas, Fuel
  01 243476
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