Bassil calls for opening Lebanese share of oil sector up to diaspora investors

File - Caretaker Energy Minister Gebran Bassil speaks during a press conference in Beirut, Friday, Feb. 15, 2013. (The Daily Star/Mohammad Azakir)

BEIRUT: Foreign Minister Gebran Bassil called over the weekend for allowing members of the Lebanese diaspora to invest in offshore drilling for oil and gas in Lebanon.

While wrapping up the workshop on Economic Diplomacy, Bassil said Saturday that after the international tender over drilling for gas was settled, Lebanese should be given the chance to invest in the oil sector.

“After the international tender has been settled on which the international company would have 51 percent shares of the oil and gas drilling, the remaining 49 percent [reserved for Lebanese investors] should be open for Lebanese diaspora interested in the investment,” Bassil said.

He added that the 49 percent would compromise a sum not exceeding $750 million.





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