Oil and Gas Prospects in Lebanon 1 st Licensing Round: Strategy & Program Arab Economic Forum 9-10 May 2013 Assem Abou Ibrahim – President & Head of QHSE Dept.
Arab Economic Forum 9-10 May 2013 Lebanon’s O&G Sector Development Early Exploration Seismic Acquisition Contract Activity Bid Round ExplorationProduction Offshore Petroleum Resources Law PA Decree PA Appointment
Arab Economic Forum 9-10 May 2013 O&G Sector Governance Petroleum Administration appointed on 04 December 2013
Arab Economic Forum 9-10 May 2013 Licensing Strategy - Inputs Licensing Strategy Sustainability Economic Growth Legal System Organizational Capacity Risks Scope & Frequency of Bid Bidding Conditions
Arab Economic Forum 9-10 May D and 3D Offshore Seismic Coverage 5 Ongoing acquisition * 2D : 8,800 L-Km 3D : 10,000 Km2 2D : 5,200 L-Km 3D : 5,145* Km2 INTERPRETED BEING INTERPRETED (OCT-2013) 2D : 1,650 L-Km Planned in Q (BasinSpan)
Arab Economic Forum 9-10 May 2013 Block Delineation
Arab Economic Forum 9-10 May 2013 Pre-Qualification Criteria Legal Joint stock company conducting Petroleum Activities Financial Total assets of USD 10 Billion Technical Operatorship of at least one petroleum development in water depths in excess of 500m QHSE QHSE policy statement(s) Established & implemented QHSEMS RIGHT HOLDER - OPERATOR Legal Joint stock company conducting Petroleum Activities Financial Total assets of USD 500 Million Technical Having an established petroleum production QHSE QHSE policy statement(s) Established & implemented QHSEMS RIGHT HOLDER – NON-OPERATORS
Arab Economic Forum 9-10 May 2013 Pre-Qualified Companies CategoryApplicantsQualified Right Holder - Operator1612 Right Holder – Non-Operator3834
Arab Economic Forum 9-10 May st Licensing Round - Adopted Strategy Allow RHs to Nominate preferred Blocks from the 10 offered blocks 1 EPA subject to Consultation 2 Consortium / RH-Operator to set Priority for blocks to bid on 3 MEW/PA Define blocks open for bidding (not less than 5 blocks) 4 Pre-qualified RH to enter into up to 3 different Consortiums 5 Consortium to bid on up to 5 blocks open for bid 6
Arab Economic Forum 9-10 May st Licensing Round - Adopted Strategy RH to participate in 1 Consortium only per block 7 Min. 3 bids per block to allow negotiations 8 MEW to award up to 4 blocks per round 9 Consortium / Operator can be awarded max. 2 blocks/round 10
Arab Economic Forum 9-10 May 2013 Timeline Q Q Q Q Q Q Q Q Q Q Q Q Approval of 1 st Round Plan Open Pre- qualification Companies Comment on EPA List of Pre-qualified companies Open Bid Round Companies Nominate Blocks EPA Workshop with Companies 17/ Define Blocks Open for Bid Close Pre- qualification Receipt of Application Fees Close Bid Round Bid Evaluation Results Jan 2014 Negotiations & Award Feb-Mar 2014
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