(MENAFN - Kuwait News Agency (KUNA)) BEIRUT, April 24 (KUNA) -- Lebanon's Minister of Water and Energy Cesar Abi Khalil announced Tuesday that his country is preparing to put forward a new concession area for oil exploration in the territorial area.
Speaking at the inaugural session of the 4th Lebanon International Oil & Gas Summit (4th LIOG-2018), Khalil said that he had asked the oil sector department at the ministry to prepare for launching the concession tender.
He pointed out that the department would hold a workshop to draw a roadmap for the tender, set a time for launching and drawing upon the experience of the first concession.
He also expressed hopes the first oilfield would discovered before the end of 2018.
The two-day event will tackle all operational and investment aspects related to the development of the oil and gas sector in Lebanon, as well as detailed and in-depth discussions on important topics related to the development of oil markets, development techniques and supply chain. (end) wsm.ibi