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Bids close on Lebanon offshore energy blocks

Bids close on Lebanon offshore energy blocks
From Reuters - October 12, 2017

BEIRUT (Reuters) - Lebanons energy minister Cesar Abi Khalil on Thursday said a tender had closed on a first round of offshore energy blocks, without saying how many companies had bid.

It will take years for revenue from any of the blocks to start flowing to the country, he said in a televised news conference.

The first licensing round for oil exploration closed, he said. The countrys petroleum authority and the cabinet will evaluate the bids, he added.

Lebanon relaunched the licensing round for five offshore blocks (1,4,8,9 and 10) in January after a three-year delay due to political paralysis. It extended the bid deadline in September.

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