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Lebanon forms Petroleum Administration committee
- Lebanon: Sunday, November 11 - 2012 at 01:06
The Lebanese cabinet has formed the long-awaited Petroleum Administration, which is to work with the energy ministry to invite international companies to start bidding for licenses to drill oil and gas before the end of this year, The Daily Star has reported. The ministry prefers a consortium of companies to work on every block off the coast, said energy minister, Gebran Bassil. "They [the companies] will try to extract gas from each of the designated blocks and this will take time. If they don't find gas in one block, then they will move to another block until the discovery is made. This will take some time but I am sure we will extract gas eventually," Bassil said.
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