Foreign Ministry launches second phase of the “Oil Project for development”

JANUARY 27, 2015 (REFERRING TO THE NATIONAL NEWS AGENCY – LEBANON) The second stage of the oil project for development was launched at a ceremony at the Ministry of Foreign Affairs, during which a cooperation agreement on development was signed between the Ministry and the Norwegian Agency for International Development (NAID).

The Ministers of Foreign Affairs and Energy and Water, Gebran Bassil and Arthur Nazarian, signed the agreement on the Lebanese side and the Secretary of State at the Norwegian Ministry of Foreign Affairs, Bard Glad Pedersen, inked the agreement on the Norwegian side.

Nazarian said on this occasion that “the second phase of the project aims to ensure sustainable management of oil resources to ensure the needs of present and future generations in Lebanon.”

“The Norwegian government has approved the second phase of the project for a period of three years during which technical support to the oil sector management committee and the ministries concerned will be pursued, including the departments of Energy, Finance and the Environment,” he said.

Nazarian finally said that “Lebanon will benefit through this program, the experience of Norway at the level of management of oil resources.”

SOURCE: NATIONAL NEWS AGENCY-LEBANON