AWARDS IN BLOCKS 4 AND 9
On December 14, 2017, the Council of Ministers approved the awards of two exclusive petroleum licenses for exploration and production in blocks 4 and 9 for the consortium composed of Total S.A, Eni International BV and JSC Novatek.
LPA NEW PRESIDENT
In-line with the decree 7968, stipulating that the Chairman of the Lebanese Petroleum Administration (LPA) is appointed on a rotational basis among its board members, Mr. Walid Nasr, Head of Strategic Planning Department, took office as Chairman of the Board effective 4 December 2017 for a period of one year.
RIGHT OF ACCESS TO INFORMATION
As per the Right of Access to Information Law (Law no. 28 dated 10/2/2017), any request for information related to the Lebanese Petroleum Administration (LPA) can be directly sent by email to Mr. Gaby Daaboul, Board Member and Head of the Legal Affairs Department at the LPA.
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PETROLEUM TAX LAW APPROVAL
On the 19th of September 2017, the Lebanese Parliament approved the law on tax provisions related to petroleum activities in accordance with Law 132/2010, which was submitted by the Council of Ministers.
As a result, the approval of the Petroleum Tax Law completes the legal framework governing the oil and gas sector in Lebanon allowing pre-qualified companies wishing to participate in the First Offshore Licensing Round to prepare their bids accordingly.
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RENEWAL OF THE OIL FOR DEVELOPMENT PROGRAMME
On the 22nd of June 2017 Norway approved the renewal of the Oil for Development (OfD) three-year Programme in Lebanon, which will run from 2018 until 2020.
RESULTS OF THE SECOND PREQUALIFICATION ROUND TO PARTICIPATE IN
LEBANON’S FIRST OFFSHORE LICENSING ROUND
Pursuant to the Minister of Energy and Water’s Decision no. 1/m dated 26/01/2017 (completion of Lebanon’s First Offshore Licensing Round), and specifically article 3 related to undertaking a prequalification round, and pursuant to the Lebanese Petroleum Administration’s (LPA) Decision related to companies that were prequalified in 2013
COMMITMENT TO TRANSPARENCY
The Lebanese Government announced its intention to join the Extractive Industries Transparency Initiative (EITI).