Lebanon should wrap up southern border demarcation talks to usher back the process of oil and gas exploration in its sea, Free Patriotic Movement head MP Gebran Bassil said Sunday.

"Concluding the demarcation talks will also speed up the process of extraction of oil and gas from the sea," Bassil said in a televised speech, adding that it is in Lebanon’s interest to end the process based on a fair demarcation that does not encroach on its sovereignty.

However the oil and gas issue has a geo-political aspect to it, he said.

“The biggest proof is what happened in Block 4 ... they [drilling company] discovered tremendous gas pressure that heralded big quantities, and told us that a quiet drilling method should be adopted to prevent any gas explosions,” Bassil said.

“We were surprised the next day that the amount [of gas discovered] was little and non-commercial,” he added.

The energy minister announced back in April that preliminary data from drilling operations in Block 4 had failed to verify the presence of any commercial quantities gas, and that a detailed report would later be released after data and samples from the well were analyzed.

Lebanon signed two exploration and production agreements for Blocks 4 and 9 off the Lebanese coast with French oil company Total.

Exploration of Block 9 has not been carried out yet as it is a point of contention between Lebanon and Israel, with the latter claiming ownership over part of it.

Bassil said that oil companies around the world have slowed down their operations due to coronavirus however it is not possible to overlook the geo-political factors that delay exploration and production operations.

On the topic of neutrality, a stance religious leaders in country have been calling for recently, Bassil said he views it as a positive thing for Lebanon but “requires dialogue and internal agreement.”

As the 15-day deadline to form a new government, as promised by Lebanese politicians to the French president neared, Bassil said his party is committed to the French initiative for Lebanon despite the presence of foreign and internal forces who want its failure.

“I understand foreign forces wanting to ruin the French initiative because they have political agendas that revolve around creating chaos ... but I don’t understand domestic forces ruining for different reasons a reformist initiative Lebanese people want and are demanding, which is in their interest,” Bassil said.

The FPM head said that his party is committed to the French initiative because it is the “logical and practical solution available to save Lebanon."

“As the Free Patriotic Movement, we are committed to the success of the French initiative, but have a great fear that it will not succeed,” Bassil said.

He added that the FPM accepted the French initiative because it revolves around a specific reforms program and its priority is for Lebanon to come out of its economic and financial crisis, without bringing in political elements such as weapons and elections which could become points of dispute and overshadow reforms.