Tuesday, August 17, 2010

(NEWS) Lebanon May Auction Oil, Natural Gas Exploration Contracts Within A Year

"Lebanon may auction rights within the next 12 months for undersea oil and natural-gas exploration, spurred by energy projects in the waters off neighboring Israel, an adviser to the country’s parliament speaker said.

Lebanon’s parliament is likely to approve a law on offshore exploration as early as tomorrow, Ali Hamdan said in a telephone interview from Beirut. “There is a big chance for the law to be voted tomorrow, and it will be an important step to start the process of organizing tenders for interested companies within a year,” he said."

My Opinion

Yeah good luck with that Lebanon, not without a fight will you take hold of these oil and gas fields... They do not reside within your territory in any case...

You can auction contracts all you like, it is not going to happen either way and you know it!

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