Economy

Will the Oil and Gas Sector Open the Door to New Job Opportunities?

Will the Oil and Gas Sector Open the Door to New Job Opportunities?

The maritime border demarcation agreement between Lebanon and Israel, signed in October 2022 with American mediation, marks an important turning point in Lebanon's history. With the end of 2023 approaching, the process of oil and gas exploration will begin, an endeavor many hope will revitalize the economy and provide new job opportunities. However, as of now, there are no clear signs regarding the quantities available and the ability to extract them, making discussions about jobs in this sector uncertain. Nonetheless, opportunities do exist, as TotalEnergies has indicated that approximately 20 people will be working in exploration in Block 9 until March 2023.

Oil expert Lori Haytian noted, via MTV, that a comparison should be made with what occurred in Block 4, where about 200 people worked on the drilling rig and a certain percentage were Lebanese. She points out that based on the contract between Total and the Lebanese state, priority is given to Lebanese nationals, and there are Lebanese companies involved in the exploration. The exploration period is expected to open up opportunities. Haytian continues: "There is no doubt that the exploration period is short and limited, and thus, the available jobs are temporary and not permanent."

She mentions that jobs in the sector are not plentiful, with main roles including drill workers, petroleum engineers, drilling rig and platform technicians, geologists, economists, financial analysts, and workers in shipping and food companies. She emphasizes the absence of an oil and gas sector in Lebanon since no discoveries have been made yet. Regarding the state's and universities' roles in education and guidance, she states: "In 2013, it was said that Lebanon became an oil state, but then political 'blocking' occurred, and no development happened in this sector until contracts were signed in 2017-2018. During this period, most universities opened petroleum engineering programs, resulting in students graduating with petroleum engineering degrees, but job opportunities have not been available due to the lack of development options." Between hope and reality, will the oil and gas sector offer a glimmer of hope?

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