Authorities Seek to Revive Oil Exploration after Drop in International Interest
Lebanon is seeking to renew the interest of international companies in offshore oil exploration despite the procrastination of the government in issuing licensing and amid reports that Israel was “stealing” Lebanese gas.
Local dailies said on Monday that the parliament's energy committee recently discovered that the interest of oil exploration companies has dropped to a large extent after they realized the Lebanese government was slow in adopting two important bills.
Last August, the government postponed for the fifth time the first round of licensing for gas exploration over a political dispute.
The disagreements were over the designation of blocks open for bidding and the terms of a draft exploration agreement.
To avert a further drop in the interest of the companies, the energy committee decided to hold conferences in more than one European country to revive the marketing of Lebanese offshore oil and gas.
MP Mohammed Qabbani, who heads the committee, said: “We should exert all efforts not to lose these companies.”
The committee's members are scheduled to hold separate meetings on Monday with Speaker Nabih Berri and Prime Minister Tammam Salam.
Berri is also expected to hold talks with UNIFIL commander Major-General Luciano Portolano over claims that Israel is “stealing” Lebanon’s offshore gas.
The speaker has said on several occasions that the Jewish state is “stealing” huge amounts of gas through a pipeline that runs along Lebanon's territorial waters.
Berri has also warned that he would soon divulge the information he has.
The speaker told the dailies on Monday that his meetings with the members of the parliamentary committee and Portolano are aimed at setting the stage for the revival of the oil file.
“It is no longer acceptable to waste time when the Israeli enemy is signing agreements” with gas exploration companies, said Berri.
He warned that Israel was encroaching on 850 miles of Lebanon’s rights at sea.
Berri also agreed with the latest remarks made by Energy Minister Arthur Nazarian, who said last week that Lebanon would miss the oil exploration chance if the authorities did not take any action.
Nazarian's stance is “important and in harmony with our view on the strategy to designate the blocks,” he said.
Lebanon and Israel are at loggerheads over the 850 kilometers of territorial water that each claims as part of its Exclusive Economic Zone.
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