Bassil Says Oil Exploration ’Exceptional’ Issue, Should be Resolved ‘Swiftly’

Energy Minister Jebran Bassil urged on Tuesday Lebanese to deal with the oil exploration as an “exceptional” issue that needs to be resolved swiftly in order to kick off the natural resources exploration.

“We have settled the issue of setting a rotating presidency for the committee” tasked with administrating the oil sector, Bassil told As Safir newspaper.

He noted that the appointment of the committee members is crucial.

Bassil said that his ministry accomplished all the tasks required by it to start the explorations.

“We will soon start surveying the land for oil,” the minister said.

He revealed that there are two companies ready to work in that field, thus the swift appointment of the committee members is vital.

In January, the Cabinet approved the oil and gas decrees after lengthy discussion over who should administer the tender and oil and gas exploration in its offshore territorial borders.

U.S. Special Coordinator for Regional Affairs Frederic Hof revealed that his country is willing to help Lebanon and Israel resolve the issue of disputed maritime borders.

A quarrel had erupted between the two countries 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.