Lebanon's clearly missing out: Israel to invite firms to bid for 10 Golan oil blocks

Published February 27th, 2015 - 10:08 GMT

Israel intends to invite oil companies to bid for 10 oil blocks in the Golan Heights that are 60 kilometers away from the Lebanese border, an informed source said Wednesday. Speaking to the Central News Agency, the source said there are indications that these reserves may have large quantities of gas and oil. “Surprisingly, the Lebanese government is not even making any initiatives to pass a proposal for onshore oil drilling. The international oil companies have apparently given up hope on Lebanon,” the source said. The source cited a study which indicates possible huge oil and gas reserves in Lebanese territories. He added that the Israelis have even invited some European companies which pre-qualified in the off shore gas tender in Lebanon to participate in the new licensing oil round in the Golan Heights. 


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