Lebanese President Michel Aoun hailed his country joining "the club of oil states," in Baabda on Wednesday, ahead of the beginning of drilling work for the Middle Eastern state's first oil well on Thursday.

"A few hours separate us from the official launch of the work of drilling the first oil well in Lebanon, from one of our regional water points, off our shores and in front of our mountain peaks, which will witness the importance of this event," said Aoun.

"It is a historic day that Lebanon will witness tomorrow. It will separate between what is before and after," he added.

The Lebanese Petroleum Administration is expecting to get the first results of the much-delayed oil exploration in the Levant Basin the next two months, before deciding to move forward to a second phase.

Protests over economic stagnation and corruption have been taking place in Lebanon since October 2019, and ways of improving the financial situation of the much-indebted country are being sought by the government.

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