Lebanon officially signed Friday its first offshore oil and gas exploration and production contracts for two energy blocks with a consortium of France's Total, Italy's Eni and Russia's Novatek.
At a ceremony held in central Beirut to mark the signing of the agreements, Energy Minister Cesar Abi Khalil vowed there would be full exploration in offshore energy Block 9, which lies in waters disputed by Israel.
"We have confirmed and reaffirmed that Block 9 is located within the Lebanese maritime waters and is fully subject to the sovereignty of the Lebanese state," Abi Khalil said. "And its exploration activities will be fully implemented."
Israel and Lebanon have exchanged threats and condemnation over the tender for Block 9, amid rising tensions over territorial and marine boundaries.
Abi Khalil also announced that the Ministry will soon launch the draft oil registry decree, which will enhance transparency, and prove Lebanon's commitment to join the Extractive Industries Transparency Initiative. The initiative is a global standard that promotes open and accountable management of oil and gas.
President Michel Aoun attended the ceremony and presented the contracts to representatives of the three companies.
Editor:Amber
