President Michel Aoun announced in a televised address, Lebanon’s position by agreeing to adopt the final formula prepared by the American mediator to demarcate the southern maritime border, Amos Hochstein.
He hoped that the end of these negotiations would be a promising beginning for an economic revival by completing oil and gas exploration, which would achieve the stability, security, and development that Lebanon needs.
In his speech, Aoun mentioned that the draft petroleum resources law was approved in the parliament on August 17, 2010, then 25 decrees were issued dealing with the rules and regulations that sponsor petroleum activities in 2012.
As well as the completion and analysis of 2D and 3D geophysical surveys, and the establishment of an information room.
In conclusion, the President thanked all the officials who succeeded in the demarcation file.