Lebanon will start exploratory drilling off its coast in 2019, with preparations slated to begin in the new year, Lebanon’s Naharnet reported Friday (December 15th).
Energy and Oil Minister Cesar Abi Khalil said granting licenses for oil exploration “is an economic benefit for the country that will create new job opportunities".
On Thursday, Lebanon's cabinet approved licenses for three international companies to carry out exploratory drilling off the Lebanese coast.
This will allow Italy's Eni, France's Total and Russia's Novatek, which bid for two of Lebanon's 10 offshore blocks, to determine whether oil and gas can be found in the area.
