Lebanon Gears Up to Kick Off Natural Resources Exploration
Lebanon and Cyprus will hold talks to follow up discussions on demarcating the maritime border, As Safir newspaper reported on Friday.
The meeting, which will be held “soon” according to the daily, will tackle the Israeli-Cypriot discussions to correct the errors in the agreement between the two sides, which “harms” Lebanon.
The Cabinet approved on Wednesday the oil and gas decrees after lengthy discussion over who should administer the tender and oil and gas exploration in its offshore territorial borders.
A dispute had erupted between Lebanon and Israel over the maritime border after the discovery of potential offshore energy reserves.
However, the Israeli map conflicts with Lebanon's proposed borders.
A prolonged debate emerged between Lebanon, Cyprus, Turkey, and Israel over the demarcation of maritime border for its Exclusive Economic Zone.
Beirut argues its map is in line with an armistice accord drawn up in 1949, an agreement which is not contested by Israel.
Energy Minister Jebran Bassil told As Safir on Friday that a plan was devised to follow up on the matter.
“We are preparing an organized plan to go over the submitted contracts… we’ve come a long way in this matter… In three months the tender will be complete,” he stated.
Bassil urged the government to appoint a body which will administer the oil and gas exploration process.
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