APICORP May Finance Development Of Lebanon's Petroleum Resources In Future - CEO

The Arab Petroleum Investments Corporation (APICORP), an investment bank focusing on the energy and petroleum sectors of Arab countries, is not ruling out the possibility of financing new petroleum projects in Lebanon, if they are profitable and feasible, APICORP CEO Ahmed Ali Attiga told Sputnik on Thursday

ABU DHABI (UrduPoint News / Sputnik - 12th September, 2019) The Arab Petroleum Investments Corporation (APICORP), an investment bank focusing on the energy and petroleum sectors of Arab countries, is not ruling out the possibility of financing new petroleum projects in Lebanon, if they are profitable and feasible, APICORP CEO Ahmed Ali Attiga told Sputnik on Thursday.

"APICORP can provide Lebanon with financial support to develop new oil and gas fields discovered not a long time ago. We have not yet discussed it with Lebanon's government, but we are looking forward to starting a dialogue in the near future," Attiga said.

Attiga visited Lebanon two months ago and learned that the country's government was seeking to develop oil and gas resources by optimum means.

"It can be a push for Lebanon's development," the top manager said.

When developing its energy resources, Lebanon should consider the experiences of countries in the region and beyond, he added.

APICORP, created by the Organisation of Arab Petroleum Exporting Countries in 1975, has an investment portfolio of more than $7.5 billion across different regions.