Lebanon’s offshore reserves

Lebanon’s offshore reserves

Speaking at the Arab Economic Forum, The Lebanese energy minister Gebrane Bassil said that scanning was now complete on 70 per cent of the country’s territorial waters covering an area of around 15,000 sq km.
Bassil said, “In just 10 per cent of that area, we have 850mn cubic meters of gas and 660 million barrels of oil.
“If we meet all the deadlines, we hope to complete the first exploration phase between 2016 and 2017, and thereafter begin development and production.”

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