Cabinet Approves Licenses for Oil Excavation in Two Offshore Blocks

إقرأ هذا الخبر بالعربية W460

The Cabinet on Thursday approved granting licenses for oil exploration and excavation in the offshore blocks 5 and 9.

According to al-Akhbar newspaper, Energy Minister Cesar Abi Khalil had agreed with the firms that excavation should begin in 2019.

Block 5 lies off Lebanon's northern coast while block 9 lies off Lebanon's southern coast.

Earlier this decade, geologists discovered a bonanza of gas reserves off the coasts of Lebanon and Israel, sparking a frenzy of development on the Israeli side to tap into the fields.

Lebanon's successive governments, beset by infighting and corruption, made only marginal progress toward that goal. In January, Foreign Minister Jebran Bassil described the government's approval of the executive decrees for offshore oil and gas excavation as the government's “first achievement.”

A portion of the reserves lies in territory disputed by the two countries.

Hizbullah has repeatedly warned Israel against tapping into Lebanon's gas reserves.

Comments 12
Thumb barrymore 14 December 2017, 15:00

Part of the deal between hariri, aoun and the ruling mafia.

Thumb s.o.s 14 December 2017, 15:07

This is the real sir2a. Billions of $ per clan!

Missing humble 15 December 2017, 11:59

The mafia has divided the shares.
We must refuse and reject any oil or gaz exploitation as long as Ebola exists.

Thumb s.o.s 16 December 2017, 00:21

We refuse and reject the theft!

Thumb s.o.s 16 December 2017, 00:26

I don't think you know what the Kabala ... unlike Madonna. If you did, you wouldn't use it in this context.

and btw, Beit Sahyoun and Sahyouni are ashraf than any mite family...

Missing un520 14 December 2017, 16:05

Great news, but could we have the names of the companies that was awarded the licences, please? Details of the profit-sharing-agreements (PSAs) would also be appreciated.

Thumb blablablablabla 14 December 2017, 18:41

It is bloc 4 not bloc 5, bloc 5 is next to bloc 9 on south, bloc 4 is between Beirut and Tripoli.

Thumb warrior 15 December 2017, 01:18

and who asked you about bloc 4, 5 or 9 ya troll?

Thumb blablablablabla 15 December 2017, 09:12

LOL the troll is talking to himself ... seems you re really suffering from a multiple personality disorder ... but that's normal since you were claiming you were a majority

anyway, you re even denying basic things for personal attacks, showing how low you can be :D

Thumb s.o.s 14 December 2017, 20:51

Hopefully Israel will blow them up as soon as they drill. I’d rather have Israel pump it out and have it benefit 6 million people rather than leaving the profits for 5 families Lebanon.

Thumb whyaskwhy 15 December 2017, 04:20

More money the Lebanese populous will never enjoy

Missing humble 15 December 2017, 11:59

We must refuse and reject any oil or gaz exploitation as long as Ebola exists.