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Bassil expects oil prospecting tenders within 3 months, no conflict with Israel

Breaking Headlines

08-01-2012 | 10:09

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Bassil expects oil prospecting tenders within 3 months, no conflict with Israel

Energy and Water Minister Gibran Bassil asserted to Agence France Presse Sunday that Lebanon plans tender-attraction for offshore oil prospecting within the coming three months, downgrading dangers of possible Israeli clash.

The House passed a law setting Lebanon's maritime boundary and Exclusive Economic Zone last August. Lebanon also officially submitted to the United Nations a maritime map that conflicted with the one proposed by Israel.

"American, European, Russian and Chinese groups have expressed interest," said the Minister, "we are working on making possible offshore prospecting a stabilizing factor [for Lebanon] rather than a reason for dispute."

Bassil was certain that Israel had no interest in threatening Lebanon's oil, as it had its own oil to focus on.

NNA

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