Five offshore blocks in process of being awarded in Lebanon in Oil and Gas sector

Submission of bids on October 12, 2017, evaluation of bids and signature of EPAs to follow soon

The Lebanese Petroleum Business Network (LPBN) launched in Beirut on October 16, 2017, at the Lebanese Small and Medium Enterprises Conference (LSMEC 2017). Following the discovery of several gas fields in the Levant Basin in 2009, and the opening for tenders from potential service providers, plans to extract the gas reserves are currently underway.

In order to create a thriving exchange of information and expertise in the Oil and Gas industry, the Lebanese Petroleum Business Network was founded, as the sole network of its kind to be launched in Lebanon. Its ultimate aim is to contribute towards building the national economy in Lebanon, through the development of the national Oil and Gas industry.

President and CEO of Lebanese Petroleum Business Network, Dr. Elie Daher, shared with attendees at the conference, the aims and mission of the Network, primarily focused on promoting the interests of Oil and Gas service providers, to assist them in sharing their expertise and promoting their value-add in the Lebanese market.

“Through the founding of the network, we seek to bring together industry experts, specialized professionals and interested service providers to the Oil and Gas sector, to provide them with a platform to promote their products and competencies,” explained Dr. Daher. “In addition, we will group together professional and technical talents in the industry, and will positively engage with stakeholders to advance the sector and increase investments in Oil and Gas industry,” he added.

Commenting on the developments currently underway, Chairman of the Lebanese Petroleum Business Network, Bachir Boustani, “We believe there is a great potential in the Oil and Gas sector, and all parties involved should be properly regulated, in order to positively augment the Lebanese economy.”

Developments in the Oil and Gas sector have been underway since the discovery of the Gas Basins, such as those in the Leviathan and Tamar Fields, in 2009. Currently, there are five offshore blocks in the process of being awarded, with the deadline of submission of applications set for October 12, 2017. In addition, over 50 companies have qualified to bid in the 2017 offshore round. The latest news from the Oil and Gas sector was the issuance of a new tax law, allowing the country to move towards the first offshore licensing round.

This week, the Lebanese Petroleum Business Network finalized a strategic partnership with The Malaysian Oil & Gas Services Council (MOGSC), which will foster the collaboration between Lebanese and Malaysian companies in the Oil and Gas industry. In addition, this strategic partnership will pave the way for future events to exchange technology and knowledge, promoting sectors of common interest and the potential establishment of joint ventures between the two organizations and their members.

The Lebanese Petroleum Business Network is open for membership applications for both local and international companies, whether specialists in the Oil and Gas industry, support companies, service providers for drilling sites or individuals who are knowledgeable and interested in being part of the industry, offering each a multitude of benefits. Benefits include access to thought-leadership, latest news and updates, event participation, talent sourcing and the exchange of knowledge in the Oil and Gas industry.

The Eastern Mediterranean region is witnessing rapid developments in the realm of gas basin discoveries since 2009. The results of seismic surveys have indicated the possibility of significant oil resources situated off the Lebanese coast. This has prompted the first licensing round for exploration and building of marine blocks off the Lebanese coast. The Lebanese government has also extended its efforts to establish regulatory and operational frameworks for the development of the Oil and Gas sector.

For more information and membership inquiries, please visit www.lpbnet.org.

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Profile on the Lebanese Petroleum Business Network

The Lebanese Petroleum Business Network (LPBN) was founded in 2017, to serve build the national Lebanese economy, by developing, enhancing and increasing investments channeled into the Oil and Gas sector. The aim of the network is to promote local and international companies and experts by:

·         Providing a platform for local and international service companies and promote their competencies

·         Sourcing and assisting professional and technical talents within the industry

·         Engaging and Collaborating with stakeholders for the advancement and investment in the industry

·         Creating networking opportunities for members and provide access to thought-leadership pieces

·         Enhancing knowledge of the sector by providing trainings, workshops and discussions on emerging issues in the industry

To learn more or to become a member, visit www.lpbnet.org

Biography of Bachir Boustani, Chairman

Bachir Boustani, Chairman of the Lebanese Petroleum Business Network, is a senior advisor to the Oil and Gas industry in which he has more than 40 years of experience; spanning all continents. He is well connected at all levels of the oil exploration and production divisions of the Regional Oil Ministries and National Oil Companies.

A graduate of the Georgia Institute of Technology, he started his career at Schlumberger in 1975 in the United States. He held several Managerial, Operational, Marketing and Human Resources positions throughout the world. As Vice President for the Integrated Project Management in the Middle East and Asia, he was a key contributor to the success and evolution of the IPM concept in the energy service industry.

Mr. Boustani is also the Director Energy Consulting services and part owner of Applicom at Dubai Internet City. He is engaged in several consultancy agreements with International Oil & Oil Service Companies, New Service Company start-ups, New Technology Development companies, Private Equity firms, Investment Banking, Consultancy firms & Mergers and Acquisitions ventures.

Biography of Dr. Elie Daher, President and CEO

Dr. Elie Daher is the President and CEO of the Lebanese Petroleum Business Network.

His notable career encompasses over 30 years of experience in strategic leadership in both public and private organizations within the energy, education and IT industries. Dr. Daher’s career includes various top executive and leadership positions. Currently, he serves as the Executive Vice President and Chief Marketing Officer at United Safety, a leading global provider of HSE services and equipment for both Upstream and Industrial Operations.

His previous roles include serving as the CEO of a Joint Venture, Executive Vice President, Chief Marketing Officer, Global VP of Strategy and Marketing, Head of Consulting division among other roles while working across four continents with Schlumberger, the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry.

Dr. Daher received his engineering degree from ESIB, earned an MBA and a Doctorate in Business Administration (DBA) degrees with high distinction and attended an extended executive education on M&A at INSEAD
He holds various certifications and accreditations from a number of well-recognized international organizations in executive coaching, leadership strategies, management consulting and petroleum engineering.

For more information, please contact
Ceem Haidar, The Commery
ceem@thecommery.com

© Press Release 2017