The Council of Ministers approved the long anticipated offshore oil and gas decrees, the special book of conditons related to the licensing rounds and the exploration and production model agreement. 

The Cabinet convened in session on Wednesday morning at Baabda presidential Palace, presided over by President of the Republic General Michel Aoun, in the presence of Prime Minister Saad Hariri and Cabinet ministers, to discuss items on agenda. 

Reading out today's Cabinet statement, Information Minister, Melhem Riachy, said that President of the Republic, General Michel Aoun, opened up today's meeting by calling on ministers to observe a minute of silence in honor of the victims of Istanbul terrorist attack, stressing that "the security measures adopted in Lebanon during the New Year's Eve has succeeded in maintaining security." 

President Aoun informed Ministers that he will preside over a meeting tomorrow of the Supreme Defense Council to determine the modus operandi of the Council in light of entrusted powers. 

Prime Minister Saad Hariri deemed the State's response in all its concerned administrations and services over the Istanbul terrorist attack was "efficient and valuable," saying that the State has carried out its duties twards its citizens. 

Riachy pointed out that Premier Hariri proposed the formation of a ministerial contingency committee- made up of the Ministries of Interior, Foreign Affairs and Health- to deal with any stringent attack as the Istanbul one. Premier Hariri also suggested the formation of an economic ministerial committee comprising of the Ministries of Economy, Industry and Agriculture, to device a nationwide economic strategy. Hariri also suggested the formation of a Committee of the Ministries of the interior, Finance, Justice and Economy to develop a licensing process for the development, modernization and operation project of Mechanical Inspection, under his chairmanship. 

Reading out Cabinet's official decisions, Riachy announced that the Cabinet passed the long anticipated offshore oil and gas exploration decrees, the special book of conditions related to the licensing rounds and the exploration and production model agreement. He noted that Ministers Marwan Hamadeh and Ayman Choucair voiced objection over this matter. 

The Cabinet also formed a ministerial committee chaired by the Prime Minister and the membership of the Ministers of Finance and Energy, to examine the special tax provisions related to petroleum activities. 

A committee was also formed led by the Prime Minister and the membership of Ministers of Finance, energy and planning to study the project law related to the Petroleum resources. 

Riachy also announced that the Council of Ministers approved the expansion of Civil Defense full-time cadres, the appointment of Emad Kreidieh as the Director General of Ogero, and Bassel Ayoubi as the Director General of Investment and Maintenance at the Telecommunication Ministry. 

The Cabinet also approved the allocation of 20 billion Lebanese liras of the budget reserve to the Health Ministry, and apporoved several donations and the transfer of allocations to a number of ministries.

Source:NNA