Saturday, Dec 29, 2012
By Summer Said
CAIRO--Lebanon's cabinet has approved the country's first offshore oil and natural-gas licensing round, Al-Arabiya television reported Saturday.
The qualifying round for firms that want to participate in the licenses will start February 1, Minister of Social Affairs Wael Bou Faour said, according to the Dubai-based channel.
A list of qualified explorers will be issued March 21, and bids can be placed May 2, he said.
The firms will be allowed to do exploration works in waters close to Israel and Cyprus, he added.Write to Summer Said at summer.said@dowjones.com.
(END) Dow Jones Newswires29-12-12 1319GMT
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