MP Mohammad Qabbani, Head of the Public Works, Transportation, Energy and Water Resources Committee held a press conference on Wednesday at Parliament to address the oil exploration and maritime borders of the exclusive economic zone (EEZ). Qabbani said, "we are committed to our right in the exploitation of petroleum resources in an area of approximately 865 km2," rejecting the U.S. proposal based on a compromise drawn by former U.S. Ambassador Christopher Hoff. "This proposal, which is temporary, calls on Lebanon to begin the exploration of petroleum resources in an area of 530 Km2," he said. He finally stressed that oil wealth could be a prelude to solving financial and economic problems of Lebanon, "which is why we need to give it major importance," he said.