Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Last month Lebanon announced blocks 1, 4, 8, 9 and 10 would open for bids.By Sept. 10, the LPA will receive offers from interested consortiums of companies; on Sept. 22 authorities will publish all offers in the interests of transparency.The first decree divides Lebanon's exclusive economic zone into 10 blocks and delimits their coordinates.The clarification by the source should assuage the concerns of some international oil companies that may not be willing to drill inside the 870 square kilometer disputed zone, which stretches through blocks 8, 9 and 10 .The source noted that apart from Block 8, about half of which is disputed, most of blocks 9 and 10 do not fall within the contested zone.The government and the LPA, according to industry sources, feel confident that Lebanon will receive reasonable offers from international companies despite the delay in passing the two decrees.Lakes wondered if the international companies would make offers on blocks near or in the disputed zones.
Govt to seek up to $5B loans to finance basic needs imports
Capital controls drastically cut imports
Association of Banks asks lenders to slash interest rates on dollar, pound loans
FOLLOW THIS ARTICLE