GlobalData, a London-based consultancy company, said Tuesday that international oil firms were still keen to bid for Lebanon’s offshore gas exploration despite the delays in an expected auction and political instability.


“Lebanon’s first offshore bidding round has generated significant interest from oil firms, and while ongoing political instability has led to its third postponement, this time until April 10, 2014, any resultant fall in interest is unlikely to make the round a failure,” GlobalData said in a report.


The firm believes the bidding in Lebanon’s first offshore round is still expected to be reasonably competitive, thanks to the perceived hydrocarbon potential in the region’s waters. A total of 46 international firms, including ExxonMobil, Chevron, Royal Dutch Shell and Total, have prequalified to bid for gas exploration. [Link]