Egyptian oil and gas companies are ready to participate in oil and gas bid rounds offered in Lebanon, Al Mal News reported.

Egypt’s Prime Minister Mostafa Madbouly discussed economic cooperation with the Lebanese Speaker of the House of Representatives Nabih Berri, during the meeting of the Joint High Committee in Beirut.

The cooperation would promote a positive investment climate and strengthen economic ties between both countries, Madbouly said.

Lebanon has announced on May 3 that it added five offshore blocks to its bid rounds for energy exploration and production (E&P). Oil companies such as Total and Eni have announced their interest.