Lebanon Oil & Gas 2013 Summit, 22nd-23rd April
Beirut, Lebanon (PRWEB UK) 30 April 2013
International Research Networks Ltd. based in London, U.K. held the successful and well-attended Lebanon Oil & Gas 2013 Summit at the Four Seasons Hotel of Beirut.
With more than 150 companies attending and an outstanding panel of speakers, IRN gathered their excellences HE Svein Aass, Ambassador of Norway, HE Tom Fletcher CGV, Ambassador of U.K., Mr. Lord Howell, the advisor of the Minister of Foreign Affairs in U.K. along with the ambassadors of Spain, Cyprus, India, Australia, Denmark, Greece, Czech Republic, Chile and Pakistan.
Under HE Muhammad Kabbani’s kind auspices, the event gathered the elite of Lebanese businessmen, international energy experts, economists and the majority of the IOC’s that qualified for the bidding round.
The first day of the summit initiated with the national anthem of Lebanon. The panel for the first session was attended by Mr. Kabbani, HE Tom Fletcher, HE Svein Aaas, Mr. Lord Howell, who all supported the event and shared their international experience exclusively for the audience to establish dialogue between the regional experts and the IOCs interested in investing in Lebanon.
HE Muhammad Kabbani, announced the governmental plans on the establishment of a National Oil Corporation that will be owned by the Lebanese State but regulated according to the laws of the private sector, with a law that will be drafted by the committee in the upcoming months and will have as a basis the regulations of the national company, Middle East Airlines.
Supported by the American University of Beirut, Dr. Ali Haidar presented the geology of Lebanon in front of the exploration and business development teams and representatives of Shell, Chevron, Mubadala Petroleum, Cairn India, Japan Petroleum Exploration, Halliburton, Kuwait Foreign Petroleum Company, ENI, Dragon Oil, Spectrum, Genel Energy, ONGC, Repsol and many others.
The necessity for transparency within the public domain and the necessity for fast and well-planned strategy were thoroughly addressed and discussed by second day’s panel discussion on fiscal, macro-economic and bilateral investment agreements.
The representatives from Chevron, Shell, ENI, KUFPEC and Mubadala held a remarkably open and sincere dialogue with the Chairwoman Dr. Carole Nakhle from the Surrey Energy Economics Centre, Alia Moubayed from Barclays Bank, Ziad Obeid from Obeid Law firm, Daniel Meier from Oxford University and the well-known expert on IOC - Governmental Relations, David Johnston.
The representatives from the IOC’s revealed that they may need from 2 hours to 9 months to pass the quality control issues for any new project and the lack of information about the fiscal legislation, lack of transparency and offshore border disputes are matters that may cause concerns and delays in the proceedings.
The conclusion of the panel came with thoughts from Mr. Ziad Obeid establishing that “The next three months will be a very critical period for the credibility of Lebanon in the international oil companies”.
The event ended successfully after holding a press conference in the Parliament and was described by its senior level delegation as “very informative” and “offering fantastic networking opportunities”.
IRN is a highly reputable organiser of senior-level and high profile summits with offices based in London. They organized the event along with Fuad Jawad from Petroserv USA & CY. who has extensive experience in the geology of Lebanon and the East Mediterranean region.
The summit was sponsored by Mubadala Petroleum, Spectrum, Halliburton, KUFPEC, Clyde&Co/Kabalan Law, Arthzen de Besche, Getech, Obeid Law Firm while the charity partner was the Children Cancer Centre of St. Judes.