Lebanon launches bidding process for oil and gas exploration

Israel and Lebanon's conflicting boundary claims
Israel and Lebanon's conflicting boundary claims

The Lebanese government has indicated the dates when it plans to hold a long-awaited first round of competitive bidding for licences to explore offshore oil and gas on its territory. But the potential risks are high in a country which has no proven reserves and which is sandwiched between Israel and Syria.

AFTER a series of postponements, the Lebanese government has for the first time announced a timetable for when it hopes to hold the first stage of a bidding process for offshore oil and gas exploration contracts.

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The launch of the pre-qualification round is expected to be on February 1, 2013. The list of qualified firms, who wou...

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