With the Lebanese Cabinet finally agreeing on the members of the Petroleum Administration committee, interest from oil and gas companies should start picking up and the UAE’s Crescent Petroleum isn’t wasting anytime:
United Arab Emirates-based Crescent Petroleum is gearing up for expansion in the Iraqi oil and gas sector and a debut into Libya and Lebanon, its chief executive told Reuters on Monday.
“We are looking at entering Libya with the right opportunity. Other countries like Lebanon, despite plans being delayed, have been setting up regulations bodies in preparation. It’s an area of potential interest,” Majid Jafar said on the sidelines of the World Economic Forum in Dubai.