File - Nazarian said work would take off quickly once the licensing round takes place.
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Energy and Water Minister Arthur Nazarian warned over the weekend that international oil companies could lose interest in bidding for oil and gas exploration in Lebanon if the government fails to speed up licensing procedures.The government has yet to issue two decrees that would pave the way for the first licensing round for offshore gas exploration in Lebanon's exclusive economic zone.Nazarian said he expected explorations works to take off relatively quickly once the licensing round takes place, mainly owning to the large quantity of data already available to international companies interested in investing in Lebanon.
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