In the following video Dr Carole Nakhle, an energy economist, based in London, UK, specialising in international petroleum fiscal regimes, world oil and gas market developments, and energy policy, is discussing risks and opportunities for potential investors regarding offshore oil and gas exploration in Lebanon.
To remind, the Lebanese government last week announced the opening of the pre-qualification phase of companies for the First Offshore Licensing Round.
Bidding for Lebanese offshore acreage, for the companies which manage to qualify, will begin in May, but the first exploration and production deal is not expected to be reached before February 2014, according to Bloomberg.
Offshore Energy Today is sharing this video with permission from World Review.
The Lebanese offshore area covers a total of 22,730km2 in the Eastern Mediterranean and has never been previously licensed for hydrocarbon exploration. The recent deepwater, sub-salt gas discoveries to the South and West, which encountered high quality Lower Miocene sands, have significantly increased the industry interest in Lebanon and the Eastern Mediterranean. The Levantine basin within the Eastern Mediterranean region is regarded to contain some of the most exciting exploration plays in the region which are being re-evaluated through advances in seismic technology.
Offshore Energy Today Staff, February 20, 2013