The first bidding round for rights to explore Lebanon’s territorial waters – which was originally slated to end in November – will almost certainly be delayed, meaning potential oil and gas deposits beneath Beirut’s share of the eastern Mediterranean will be buried longer still. Caretaker Energy and Water Minister Gebran Bassil – along with the Petroleum Administration – initially wanted the bidding to begin in May. However, caretaker Prime Minister Najib Miqati’s resignation in March killed that plan. Since then, the process has been held hostage to politics.
 

Before the bidding can begin, a government must approve two decrees – one delineating blocks to be put up for auction and a second approving a model exploration and production agreement, the basis for any future contracts with international companies. Ideally,the timeframe for the 48 pre-qualified companies who expressed interest in bidding to review geological data, form consortia of at least three companies a nd complete their bids was slated for six months (from May until November). [Link]