Report: Lebanon's Offshore Gas Reserves Larger than Israel
إقرأ هذا الخبر بالعربية
Lebanon has high prospects of gas in its offshore Exclusive Economic Zone larger than the amount in Tamar and Leviathan fields off Israel's Mediterranean shores.
According to Neil Hodgson, an international expert at Spectrum company, there are high chances of detecting large quantities of gas offshore Lebanon.
Hodgson pointed out that “if all goes well, Lebanon will be able to produce gas by 2019 or 2020.”
The British Spectrum company had unveiled in 2012 that Lebanon's oil reserves off its southern coast are of the richest and best in the region.
The firm estimated that the volume of gas is around 25 trillion cubic feet.
The gas reserves in Lebanon amount to more than 30 or 40 trillion cubic feet while the that in Tamar field reaches 10 trillion cubic feet and Leviathan 17 trillion cubic feet, Hodgson said.
Caretaker Energy Minister Jebran Bassil announced earlier in April that Chevron, Exxon Mobil, Shell and Total are among 46 international oil companies that have been shortlisted to tackle the country's offshore oil and gas wealth.
He said that the 12 operator and 34 non-operator companies will be narrowed down and the remaining companies will be granted the proper license to extract the offshore wealth.
Lebanon has been slow to exploit its maritime resources compared with other eastern Mediterranean countries. Israel, Cyprus and Turkey are all much more advanced in drilling for oil and gas.
Lebanon and Israel are bickering over a zone that consists of about 854 square kilometers and suspected energy reserves there could generate billions of dollars.
Beirut argues that a maritime map it submitted to the U.N. is in line with an armistice accord drawn up in 1949, an agreement which is not contested by Israel.
Major-General Abdul Rahman Chehaytli, who heads the Lebanese delegation following up Lebanon's maritime border, expressed regret on Thursday over Lebanon's failure to resolve the dispute with Israel.
“It is our right,” the official said.
He pointed out that Prime Minister-designate Tammam Salam's cabinet should focus on the matter and tackle it with the international community to attain our rights.
In March 2010, the U.S. Geological Survey estimated a mean of 1.7 billion barrels of recoverable oil and a mean of 34.5 trillion cubic meters of recoverable gas in the Levant Basin in the eastern Mediterranean, which includes the territorial waters of Lebanon, Israel, Syria and Cyprus.
The formation of the Petroleum Authority in November was the first major step in future oil exploration since parliament passed a law in 2011 setting the country's maritime boundary and Exclusive Economic Zone.
The country will witness the first oil exploration process in 2015 and it will take a year to enter the production stage.
25 April 2013, 09:30
43
oil and gas reserves of Lebanon have been known to exist for a long while but the cost of extraction was too high compared to international prices. now might be the right time.
however bullies and thieves should be eradicated from the country so that technocrats handle this richness, so that Lebanon can enjoy financial stability and prosperity for the next generations.
without stability, there is no gain.
iran should go out of Lebanon and we need to forget about wars.
25 April 2013, 09:30
33
oil and gas reserves of Lebanon have been known to exist for a long while but the cost of extraction was too high compared to international prices. now might be the right time.
however bullies and thieves should be eradicated from the country so that technocrats handle this richness, so that Lebanon can enjoy financial stability and prosperity for the next generations.
without stability, there is no gain.
iran should go out of Lebanon and we need to forget about wars.
25 April 2013, 09:31
34
Will the people even see a single dollar of those billions? Of course not, it's all going directly to the pockets of our beloved politicians. I sincerely hope we never drill for this gas, because we, as a people, don't deserve something this good.
25 April 2013, 10:02
21
el hamdellah enno mother nature is kinder on Lebanon than its own people!
we can use our first crude batch to burn all our political system and those in it....
25 April 2013, 10:33
22
the oil dossier was ready since 69 in 92 when late harriri came to power
the dossier disappeared and 2 countries refused that Lebanon go on the track of extraction
usa: cause Israel was not ready yet ( and to oblige harriri to get debts
KSA : so they can still controle the weak Lebanese by bribes and corruption
god bless Lebanon
25 April 2013, 13:09
13
your infos are incorrect or is it just pure M8 propaganda? lol
a lot was done under all gvts for that issue... see for urself :
1990 — War ends, with Damascus and Beirut forming “Committee of Cooperation between Lebanon and Syria for Oil Exploration in Lebanon”
2000 — Lebanese government switches to focusing on offshore oil and gas reserves, abandoning proposals for further onshore drills
2002 — Government agrees contract with Spectrum Geo to carry out two-dimensional seismic surveys of offshore resources
2006/07 — Norwegian survey company Petroleum Geo-Services (PGS) wins contract to perform three-dimensional surveys
Jan 2007 — Lebanon and Cyprus sign an agreement demarcating the maritime border between the two countries
25 April 2013, 16:21
02
@peace. thank your for the schedule. Interesting...
Clear that the syrians wanted to take their share in the 90s of what they considered their milking cow, lebanon.
Clear that there is no plot like some are saying.
Clear that we are working, but slowly, lebanese way.
Clear that politicians will steal a good chunk
But the people will benefit also..
Keep good vibes people.
25 April 2013, 13:12
13
Never one inch of land. The zero sum game ends up screwing only the Arabs, so rather than cut a deal (which btw is based on what Lebanon has accepted with Cyprus so this is BS like Sheeba Farms) you will end up not drilling at all. Too bad.
25 April 2013, 13:26
14
Lebanon is the one of the richest if not the richest in Water!
We are WaterLand! and most of us buy water in summer.. Why r the hopes so high for gas fields? Same story!Same thieves will be ruling us,if GOD is kind enough to take them,u will be ruled by their sons which history proved to me much worse than the parents ( how many time u heard the word: yamahla bayyo?!)
25 April 2013, 13:27
13
Lebanon is the one of the richest if not the richest in Water!
We are WaterLand! and most of us buy water in summer.. Why r the hopes so high for gas fields? Same story!Same thieves will be ruling us,if GOD is kind enough to take them,u will be ruled by their sons which history proved to me much worse than the parents ( how many time u heard the word: yamahla bayyo?!)
25 April 2013, 14:54
13
Absolutely, we have no proof for their claims. Bassil or anyone.
25 April 2013, 16:23
12
yes sidon, israeli arrogance is unbeleivable. they are jealous because we have more oil and are bullying us... we need to fix this issue. but without going to war.
25 April 2013, 16:23
02
There is enough oil/gas for all the countries involved. They should all work together to maximize the revenue to each and the benefit to their population.
