Obeid & Partners

Obeid & Partners

Lebanon Oil & Gas: Deadline For Bids Further Extented

01-08-2014

On 8 January 2014, the Minister of Energy and Water announced that the date to submit bids pertaining to Lebanon’s First Offshore Licensing Round has been further extended from 10 January 2014* to 10 April 2014 owing to delays in the official ratification of the Governmental Decrees related to the Delineation of the Offshore Blocks and the model Exploration and Production Agreement. The issuance and approval of these two decrees by the Lebanese Government is necessary for the initiation of the bidding process.

The 6-month bidding round kicked off on 2 May 2013 and was meant to close on 4 November 2013.** During this period, the Government was to finalize the framework and conditions for the exploration and production of hydrocarbons in Lebanon, however, the presence of a caretaker government with limited powers has slowed down this process.

In May of last year, a draft model EPA was made available for comment to the companies which had successfully made it through the April 2013 pre-qualification round with an updated draft model EPA subsequently being made available following the conclusion of a workshop held in Beirut in June 2013. As regards the delineation of the offshore blocks, five blocks (1, 4, 5, 6 and 9) were indicated as likely to be those opened for bidding in Lebanon’s First Offshore Licensing Round, with the possibility of further blocks being added if so decided by the Council of Ministers.

*We refer to our posts of 4 September and 5 October 2013 regarding the initial deadline postponement

**We refer to our post of 2 May 2013 for the complete original timeline.

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.