Khayat said Petroleb had hoped to take part in Lebanon’s gas exploration.
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Khayat admits the deal is small compared to international and regional standards but indicates Lebanese firms can compete in oil and gas licensing rounds despite the limited resources they have in comparison to major oil companies.Petroleb was hoping to take part in Lebanon's gas exploration but its Brazilian partner and operator Petrobras, one of the leading companies in the world in offshore gas exploration, decided to pull out following repeated delays in approving the two decrees for gas exploration.Khayat admitted that some of the companies they approached for partnership were deeply displeased by the way the Lebanese government handled the garbage problem.Khayat stressed that Petroleb is looking forward to eventually operating in Lebanon with its partners.
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