The first effort to pull oil and gas from the waters off the coast of Lebanon began Tuesday, less than a year after bids, the country's energy minister said

Energy Minister Cesar Abi Khalil said efforts are under way after the government signed off on development plans late Monday, The Daily Star reported.

Decrees put forward by the Lebanese government outline a model for revenue sharing, something that derailed previous efforts to court foreign investors.

Few companies have waded into Lebanese waters since bidding opened last year. French energy company Total serves as the operator at two blocks in Lebanon's deep waters. It's working alongside Italian energy company Eni and Russian company Novatek

The companies signed two exploration and production agreements in Lebanon's first international offshore licensing round. Eni said in February those agreements open Lebanon up for exploration.

Lebanon last year filed a request to join the Extractive Industries Transparency Initiative, a body that aims to cast light on how countries manage their oil, gas and mineral resources. Khalil said that, as the country opens itself up to foreign energy investors, accountability was essential.

The Lebanese government estimates there are 95 trillion cubic feet of natural gas and 750 million barrels of oil in its territorial waters. The country, however, has been at odds with its neighbors over maritime borders in the Mediterranean Sea.

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