The Lebanese government has indicated the dates when it plans to hold a long-awaited first round of competitive bidding for licences to explore offshore oil and gas on its territory. But the potential risks are high in a country which has no proven reserves and which is sandwiched between Israel and Syria.

AFTER a series of postponements, the Lebanese government has for the first time announced a timetable for when it hopes to hold the first stage of a bidding process for offshore oil and gas exploration contracts.

The launch of the pre-qualification round is expected to be on February 1, 2013. The list of qualified firms, who wou...

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Dr. Carole Nakhle
The sector could completely transform the economy but only if sizeable oil and gas reserves are found, and, more importantly, if petroleum revenues are managed properly
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