GAIF:Positive signs as Lebanese insurers seek major role in protecting oil and gas assets

By Ridwan Abbas | 26 May 2016

Lebanon's Association of Insurance Companies (ACAL) has signed a Memorandum of Understanding (MoU) and received backing from the Lebanese Petroleum Administration (LPA) to set up an oil and gas insurance pool, in its bid to ensure local players have priority in insuring the assets of exploration companies once oil and gas extraction work eventually begins, said Mr Max Zaccar, President of ACAL, on Day 2 of the GAIF in Beirut yesterday.

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