Oil And Gas: Hopes High As Survey Begins In Lebanon's Eez
Date
8/25/2023 4:02:28 AM
(MENAFN- Famagusta Gazette) Lebanon has permitted a three-dimensional seismic survey in block 8 of its economic zone in the East Mediterranean, Elnashra news website reported. Lebanese Minister of energy and Water Walid Fayyad announced Thursday at a press conference that the survey was licensed to a multinational consortium, according to the report.
“Hopes are high concerning this block and the data to be collected in block 8,” he was quoted as saying.
Lebanon and Israel finalized a U.S.-brokered maritime border demarcation deal in October last year, bringing both countries closer to oil and gas exploration in their waters after years of negotiations.
Lebanon divides its economic zone at sea into 10 blocks. On Tuesday, TotalEnergies launched the oil and gas exploration activities in block 9 of Lebanon's territorial waters.
Lebanon needs revenues from the oil and gas sector as the country reels under an unprecedented financial crisis.
lebanon announces creation of oil, gas sovereign fund August 3, 2023 famagusta gazette 0 Lebanon announced on Wednesday the creation of the Lebanese Sovereign Fund for Oil and Gas to manage the sector's revenues, the National News Agency reported. Ibrahim Kanaan, the head of the Parliamentary Finance and Budget [read more]
oil, gas discoveries promising in lebanon waters: energy minister July 11, 2023 famagusta gazette 0 The two- and three-dimensional seismic surveys implemented on Blocks 4 and 9 of Lebanon's territorial waters show promising oil and gas discovery potential, said Lebanese Energy and Water Minister Walid Fayyad on Monday.“We have [read more]
Author famagusta gazette
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