U.S. drafts compromise for Lebanon-Israel dispute
A large number of gas reservoirs have been identified along the Lebanese coast and these discoveries have finally prompted Lebanese officials to pass the long-awaited decree 9438 back in December 2012 and nominate a board of directors for the Petroleum Administration Authority (PAA) entrusted with the administration of Lebanon’s natural resources.
The next step was launching the pre-qualification round for all joint stock petroleum companies in order to determine eligibility to participate in the licensing round, where such pre-qualified companies will bid for an exploration and production agreement with the government. The results for this round will be announced on April 18 2013.
I recommend you read this article “Lebanon getting closer to developing hydrocarbon reserves” which provides all the necessary details on the various stages Lebanon needs to go through before kicking off petroleum activities.
While Lebanon now seems to be on the right track to become a real player in the Middle Eastern oil and gas industry, I worry that greedy and corrupt politicians won’t spare a chance to profit from these deals.
Thank you Sana for the article
I kind of fear the corruption, as you mentioned, will turn Lebanon to the state Nigeria is in today. Where people sell each other to gain the most of the profits in to their pockets.
And what’s wrong with being like Nigeria? They have 24 hrs electricity don’t they?
And the best thing, they don’t have Gebran Bassil.
FYI goebbels, Nigeria is the biggest oil selling country in Africa and they have no electricity “ya3neh 3 to 4 hrs a day and the current fluctuates from 100 to 250 Volts” around 70% of its people live under poverty line.
So Sami’s fears are legitimate wo nchallah ma yseer fina nafes el shi…
Yes, They’re absolutely blessed that they don’t have Bassil, but they have 150,000 barrels stolen per day by their officials. That’s the money they could use to feed 80% of their population that lives below poverty line.
That’s the greed that lead them there! And our politicians wouldn’t mind that at all if they’re able to deposit millions of dollars in their pockets.
Again Good luck living in leb ,god luck living in corruption ,i vowed to never set foot in his country because people and politicians are alike 🙂 CORRUPT 🙂
why do you bother reading lebanese blogs then?
http://www.rigzone.com/news/article.asp?hpf=1&a_id=125280&utm_source=DailyNewsletter&utm_medium=email&utm_term=2013-03-26&utm_content=&utm_campaign=feature_2 Try this link, pretty informative