BEIRUT, Aug. 1 (Xinhua) -- Lebanese President Michel Aoun vowed Wednesday to develop the combat capabilities of the Lebanese army by arming it with the latest equipment.

The army has "a big role in protecting our south from Israel's greediness," said Aoun in his address to the army on the occasion of the 73rd Army Day.

Lebanon signed its first offshore oil and gas exploration and production agreements on two blocks at the beginning of 2018.

"We will begin the oil and gas exploration process soon," said Aoun.

According to the Lebanese president, his country will focus on the economy and the fight against corruption in the near future, in addition to securing the safe return of refugees to their homeland.

Aoun also expressed his keenness to cooperate with Prime Minister-designate Saad Hariri on forming a national unity government with support from all political parties.

Since Hariri was tasked with forming a government in May after the general elections, he has encountered numerous hurdles, the latest of which is disputes between the Free Patriotic Movement, founded by Aoun, and the Lebanese Forces, over their ministerial shares in the next cabinet.