New Syndicate For Petroleum Activities Launched In Lebanon In Line With Oil, Gas Exploration

9/10/2023 6:15:15 AM

(MENAFN- Famagusta Gazette) Lebanon's private sector has launched the Syndicate of Contractors and Subcontractors for petroleum Activities and Services as the country started oil and gas exploration in its territorial waters.

A statement released by the Chamber of Commerce, Industry, and Agriculture in Beirut quoted the head of the Syndicate, Bernard Jerdi, as saying that the syndicate would work with a pressure group for its own national goals and enhance cooperation with all parties to ensure the highest professional standards.

Jerdi added that the syndicate will collaborate with oil and gas contractors and qualified people in the private and public sectors to fit the highest international safety and technology standards and play an influential role on behalf of the sector's contractors and subcontractors.

Mohammad Choucair, president of the Chamber, said the creation of the syndicate coincides with a sensitive and decisive stage in the historical path of petroleum activities in Lebanon.

Choucair said he hoped that the discoveries in Block 9 would be commercial, which would help Lebanon overcome its economic and financial crises.

On Aug. 29, TotalEnergies launched the oil and gas exploration activities in Block 9 of Lebanon's territorial waters.

TotalEnergies is the operator of Block 9 with a stake of 35 percent, along with its partners Eni, 35 percent, and Qatar Energy, 30 percent.

Lebanon needs revenues from the oil and gas sector as the country reels under an unprecedented financial crisis. ■

Author

Famagusta Gazette

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