Lebanon First Offshore Licensing Round - Exploration and Production Agreement EPA for Petroleum Activities - Rev 6 - 29 September 2015
Country
Year
2015
Summary
On the 4th of January 2017 the Cabinet issued decree number 43, which includes the Tender Protocol (TP) related to offshore licensing rounds, and the Exploration and Production Agreement (EPA). The EPA constitutes annex number 2 of decree number 43 dated 19 January 2017. The EPA stipulates the contractual elements of exploration and production activities, and refers to the model agreement that will be concluded between the State and the winning consortium, which is formed of at least three Right Holders including one operator within a defined area. The EPA extends over the exploration, appraisal, development and production periods up until decommissioning and accounts for all necessary legal provisions in relation to petroleum activities.