OFFSHORE GAS, INDIA ENTERS LEBANESE AND ISRAELI MARKETS
The Indian oil company Oil and Natural Gas Corp (ONGC) has confirmed its willingness to participate in the ongoing call in Lebanon and Israel for the exploitation and production of oil and gas offshore.
The Indian company is one of the pre-qualified companies in Lebanon for the first phase of contract award for Blocks 1, 4, 8, 9 and 10.
However, the ONGC indicated that it would not present itself for the Lebanon-Israel border blocks, namely Blocks 8, 9 and 10, as the Indian company also intends to participate in the exploration and exploitation of 24 blocks off the Israeli coast (none of which is in the controversial areas).
In Lebanon, pre-qualified companies for the first phase of contract award must submit their bids by September 15. The announcement of the winners and the signing of the contracts is scheduled to take place on November 15.