Offshore Drilling for Oil and Gas Begins in 2019, Says Andari

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Banque Du Liban's second vice-governor Saad Andari announced during a conference that Lebanon expects to start exploratory offshore drilling for oil and gas by the end of 2019, LBCI news said on Tuesday.

The exploration will take between three to four years, and will be conducted by a consortium led by French oil giant Total, Andari said.

Lebanon signed in February a deal with an international consortium to start exploratory offshore drilling for oil and gas in what the country hopes will help boost its struggling economy.

The three oil companies, Italy's Eni, France's Total and Russia's Novatek, have bid for two of Lebanon's 10 offshore blocks, to determine whether oil and gas exist.

SourceNaharnet
Comments 5
Thumb lubnani.masi7i 6 months

and offshore bank accounts are already in place in anticipation of huge payments/bribes.

Thumb s.o.s 6 months

I’m pretty sure bassil and Ned hariri already got a down payment.

Thumb _citizen_ 6 months

'patriotic' southern to Bani Majus

Thumb whyaskwhy 6 months

Great logic Southern, so your saying its better for Lebanon's oil to be a prime mover for a corrupt nation than the oil become the ownership of others??

Thumb thepatriot 6 months

Oil or no oil... it did not save Venezuella or Iran to have oil...