Geagea Calls for Formation of New Cabinet to Tackle Petroleum File
Lebanese Forces leader Samir Geagea rejected calls for awarding the 10 offshore blocks for oil exploration at one time, pointing out that the drilling process isn't “urgent” and can wait for the formation of a new cabinet.
“We should designate one or two blocks in the first stage so that we could award the remaining oil blocks with higher prices and the state would also gain the necessary expertise to deal with the matter,” Geagea said in an interview with As Safir newspaper on Thursday.
He also didn't rule out the possibility of establishing a national oil company.
Acute discord among Lebanese officials is delaying the awarding of 10 of the oil blocks as Speaker Nabih Berri is calling for the assigning of the 10 offshore blocks for oil exploration at once.
Meanwhile, caretaker Energy Minister Jebran Bassil is calling for designating only two blocks for the meantime.
Geagea told As Safir that Lebanon shouldn't start exploring gas in areas far from the disputed territorial waters with Israel and tasking a specialized international law firm with proving Lebanon's right.
Lebanon and Israel are bickering over a zone that consists of about 854 square kilometers and suspected energy reserves there could generate billions of dollars.
“Israel still needs more than a year to kick off the exploration process, which in turn grants Lebanon enough time to prove its rights,” the LF leader added.
Concerning the lingering dispute over holding a session for the caretaker cabinet to endorse two decrees essential to award the oil blocks for the oil companies, Geagea rejected the issue.
He pointed out that the political foes should swiftly agree on forming a new cabinet to tackle the petroleum file.
“The matter isn't urgent and we don't trust the caretaker cabinet,” Geagea noted.
The decrees call for demarcating 10 maritime oil exploration blocks and setting up a revenue-sharing model.
Caretaker Prime Minister Najib Miqati continuously argued that holding a session for the cabinet requires a unanimous political agreement, pointing out that a caretaker cabinet can't approve non-essential decrees.
However, Berri and Bassil call for the caretaker to hold an extraordinary session to approve the two decrees and guarantee Lebanon's rights.
Bassil postponed again on Friday the oil and gas tenders from December 10, 2013 to January 10, 2014 after the cabinet failed once again to convene to approve the two decrees.
The country's oil and gas wealth attracted around 46 Arab and international companies in the second pre-qualification round of the tenders process.
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