According to interim Prime Minister Najib Mikati, the Lebanese state has completed the border agreement with Tel Aviv after more than two years of indirect talks and has already begun the exploration process for Area No. 9 in the Qana field.
In this sense, the prime minister stressed that the companies responsible for this will drill an exploration well in 2023, “and if the results of exploration are positive, the confidence factor in the markets will be strengthened.”
Speaking at the Beirut Arab Economic Forum, Mikati noted that gas exploration will bring economic benefits to Lebanon by attracting foreign investors, creating job opportunities and improving state revenues if the hydrocarbon resources are marketable.
In this line of thinking, the Lebanese authority envisioned the recovery of the sector in the country, which would reduce the energy deficit, enhance international standing, and help in economic rescue.
In front of more than 400 national figures and about 30 countries present at the forum, the Lebanese Prime Minister indicated that the accelerated exploration process, and in the case of commercial quantities, will mean the development of the field at full speed, and the supply of natural gas to the region. Local market.
He acknowledged that the stage would require an important role from the private sector in the financing process and in establishing the natural gas infrastructure, which would contribute to the development of national industries.
In order to achieve the best results and make the most of the rational management of natural resources, Mikati insisted on the need to monitor all sectors from the initial exploration stages and later in the stages of development, extraction and production.
The Prime Minister indicated that improving the quality of goods and services required by international oil companies will affect the preservation of the sector, and giving priority to taking care of the environment and public health and safety.
Lebanon and Israel separately on October 27 handed over to the US mediator Amos Hochstein and the UN representative here, Joanna Wronica, a memorandum of understanding related to the demarcation of the maritime borders in the south.
And the Lebanese national position stressed that the country did not enter into any kind of normalization with Tel Aviv and obtained its rights in the Qana field without sharing the wealth, nor paying compensation to its counterpart.
In mid-November, the French company TotalEnergies and its Italian partner ENI launched the start of gas exploration activities in the Mediterranean Sea off the coast of Lebanon, with the aim of completing drilling as soon as possible in 2023.
In this context, the Lebanese economist Ziyad Nasreddin stressed that the issue of oil and gas is not only related to the demarcation of the borders with Israel, but rather to the consolidation and consolidation of Lebanon’s rights, based on the basic equation for breaking the blockade. From the United States of America.
According to the expert in energy affairs, Washington has for years prevented European companies from exploring, extracting, exporting or selling in Lebanese waters, with the aim of obstructing a process that is the main factor in reversing the collapse of the country’s economy.
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