Obeid & Partners

Obeid & Partners

Lebanon Oil & Gas: Latest Developments

01-04-2017

The new Lebanese Cabinet approved two prerequisite decrees for the initiation and progression of the bidding for offshore exploration and production of hydrocarbons.* 

The decrees approved the official delineation of blocks in Lebanon’s EEZ, the bidding conditions, and the model Exploration and Production Agreement (EPA). 

The Cabinet additionally decided to form two ministerial committees to be led by the Prime Minister. The first for the study of the draft taxation law specific to petroleum activities, and the second to focus on a draft law specific to onshore petroleum activities.

The approval of these decrees are a positive development for the future of Lebanon’s emerging oil & gas sector.**

* For background on this topic, please see our posts from 8 April 2014, 8 January 2014, 5 October 2013, 4 September 2013 and 2 May 2013

** For further legal updates, please contact our Oil & Gas team at [email protected]

Recent Work Highlights

Our lawyers at Obeid & Partners have extensive experience in complex cross-border matters. Since the establishment of the firm in 1987, we have represented various clients ranging from government and government entities to nationally and internationally renowned investors, corporations and individuals. Our clients are distinguished in their respective fields of expertise.

Our team holds a track record in handling complex local and international cases, of which relevant work highlights include:

Hospitality

Successfully representing multiple owners of shares in an unprecedented class action before the Lebanese courts, involving a landmark resort in Beirut. The matter involved complex proceedings in addition to requiring significant logistical and coordination skills for the various plaintiffs in the context of the class action. This prompted the firm to develop an in-house protocol […]

Educational Services

Successfully representing a dually licensed private university in relation to a criminal lawsuit as well as an administrative claim.

Aviation

Successfully representing a world leading provider of solutions for the travel industry, in relation to a series of complex disputes pending before the Lebanese courts, involving seizure matters, URL geo-blocking, payment claims, action on the merits, and other proceedings. 

States

Successfully representing foreign states before the Lebanese courts in a series of complex court actions involving both private and public international law issues, relating to advance payment claims, real estate and lease agreements. 

Banking and Finance

Successfully representing a major oil trader, in what is still known as the largest litigation in Lebanon involving a claim in excess of one billion dollars against one of the largest local banks.  This was a first-of-kind matter in the banking sector which challenged the amnesty in the current financial crisis in Lebanon and the […]

Oil and Gas

Successfully representing  a group in relation to a complex cross-border action involving worldwide freezing injunctions and document preservation orders with claim amounts exceeding USD 300 million. Our firm secured a first-of-a-kind decision from the Lebanese courts and advised on complex cross-border matters involving mareva injunctions.