Sayegh on Exploratory Oil Drilling: Do Not Exaggerate


Democratic Gathering Parliamentary Bloc MP Faysal al-Sayegh downplayed what he said are “exaggerations” that Lebanon can be listed among oil- producing countries, saying it is still early to know that.

“What is happening today off the Lebanese coast is exploratory drilling operation to know whether there is gas in commercial quantities or not! Lebanon is still in a ‘Fish in the Sea’ stage,” said Sayegh.

The MP was referring to President Michel Aoun’s announcement on Wednesday that Lebanon will witness a “historic day” Thursday with the official launch of offshore oil and gas drilling.

Sayegh said Lebanon still has “about $ 50 billion lost in depositors' money, billions of Eurobonds due within 10 days, an international monetary fund shocked by our inability to draw a rescue plan, and indifference to our support by the Gulf brothers, adding to Coronavirus from Iran, and escalating US sanctions.”

“So please do not exaggerate the Lebanese way, but instead start devising realistic solutions to our problems with the available practical capabilities, do not trade and mortgage our oil wealth have mercy on our children and future Lebanese generations,” he concluded.

Comments 2
Missing samiam 27 February 2020, 14:01

Well stated!!

Thumb canadianleb 27 February 2020, 14:19

For once I agree with a politician, well said Sir!!! Bravo!!!