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Lebanon’s 2nd Offshore License Round

Source: www.gulfoilandgas.com 1/3/2019, Location: Middle East

The round is scheduled for official launch this month, with a window for prequalification from January to April 2019. PGS has seismic data that will allow you to analyze some of the most promising leads in the Mediterranean. In 2018, the Council of Ministers approved the recommendation of the LPA to prepare for Lebanon’s second offshore licensing round. This is scheduled for official launch in January 2019.

The licensing round will extend over twelve months, leading up to the award of exclusive petroleum rights to explore and develop new hydrocarbon resources offshore Lebanon.

Tentative LPA Timeline
Launch and announcement of open blocks: January 2019
Submission of prequalification applications: January 2019 - End of April 2019
Declaration of prequalification results: May 2019
Submission of bids: May 2019 - End of October 2019
Evaluation of bids and Council of Ministers approval: November 2019
Award of exclusive petroleum rights (EPA): December 2019

Exploration Opportunity
Following the success of the first license round in 2017, Lebanon again presents a tremendous opportunity with frontier acreage already covered by modern 2D and 3D seismic data. The acreage comes with the reassurance of proven hydrocarbon plays and recent discoveries in the vicinity.

PGS has supported exploration efforts offshore Lebanon since 2006 with multiple 2D and 3D surveys. As an official data provider for the 2nd Lebanon Offshore Licensing Round, PGS’ high-quality datasets will help you to unlock the petroleum system and evaluate potential prospects in the Levantine Basin.
• PSDM MegaSurvey: over 10 000 sq. km of matched, fully-migrated, and merged 3D seismic
• 8 800 line km of 2D GeoStreamer seismic (acquired 2009 and 2011) tying to the 3D surveys

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