The Lebanese cabinet is to discuss the issue of oil and gas exploration in its January 4 session, after referred on Wednesday by the ministerial committee tasked with following up the case.

The Lebanese cabinet is to discuss the issue of oil and gas exploration in its January 4 session, after referred on Wednesday by the ministerial committee tasked with following up the case.
“I want to announce the good news to the Lebanese: the ministerial committe

es tasked with studying the oil decrees has reached an agreement and referred the decrees prepared by the energy ministry to the upcoming Jan. 4 cabinet session”, Energy and Water Minister Jebran Bassil said following the committee’s meeting at the Grand Serail.

Bassil hoped the government would endorse the decrees, noting that “what’s important is to launch the exploration process.”
Finalizing the decrees is a step that “highlights the seriousness of the Lebanese government and Lebanon in addressing this issue.”

“According to the studies and analyses we’re conducting and developing day after day, our oil wealth is spread across our entire exclusive economic zone and it’s not limited to a certain area and there are no disputed areas,” Bassil revealed.

“The oil wealth is located in the south, center, north, near the coast, away from the coast and in all areas,” the minister added, noting that “therefore we have several opportunities and capabilities that allow us to easily utilize this oil wealth.”
The cabinet in September approved the proposed borders of Lebanon’s Exclusive Economic Zone in the Mediterranean.