Report: Onshore Seismic Scan to Remain till September, Costs to Reach $25 mln
إقرأ هذا الخبر بالعربية
The onshore 3-D seismic scan process is expected to remain until September as the British Spectrum Company, which will conduct it, will cover the expenses estimated to reach $25 million, a local newspaper reported on Friday.
As Safir newspaper quoted a ministerial source as saying that the British firm will pay Lebanon a share of the profits achieved by the survey.
According to an expert, the seismic scan carried out by Spectrum will include 500 linear kilometers onshore.
The newspaper reported that another Austrian Company offered to conduct a seismic scan, without charges.
The offer has been sent to the cabinet for further studies, the daily added.
“The international companies, in particular, the British, perceive the promising possibilities onshore Lebanon... Or it wouldn't have taken such decision enthusiastically,” the expert said.
On Thursday, Energy Minister Jebran Bassil and British Foreign Secretary William Hague launched the onshore seismic scan that will be carried out by Spectrum.
The 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.
Last week, Bassil announced the opening of the pre-qualification period for oil exploration companies interested in exploring Lebanon's offshore oil and gas reserves.
The deadline for submitting applications will be on March 28 and the Petroleum Authority will announce after three weeks the list of accepted companies then tenders will be launched, which will last until the end of the year.
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 cabinet endorsed plans in January 2012 to implement legislation that will clear the way for offshore oil and gas exploration.
In August 2011, the parliament passed a law setting Lebanon's maritime boundary and Exclusive Economic Zone.
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.
22 February 2013, 12:19
145
and all the other thieves in government including the farsi M8 factions. and since Bassil didn't add any transparency to the whole procedure, my guess is he wants first dibs.
22 February 2013, 15:20
143
your beloved aoun says he has proof and a list of corrupted politicians who stole the country so ask him why he is still not giving them to justice? what is he hiding? names of some of your friends too maybe.... LOL....
22 February 2013, 21:33
30
you really want to go that route,
why don't explain where Aoun and his SIL have made their money--obviously it wasn't from them being business savy? How about Berri and hosts of other politicians on ALL sides of the spectrum--corruption runs abound and my point was that Bassil did not put a transparent mechanism in place on how much the funds are going to be (when realized) and how they are going to spend the money and account for it.
I gave some points--I assume you disagree, but you still won't address them.
22 February 2013, 22:58
01
FT, my point was that corruption runs abound on ALL sides of the political spectrum. If you want to single out one side, be prepared to defend the other. Until something is actually done which the politicians ALL hate, then it will continue. The so called change and reform block has done nothing to address it, and nor will any other policital party because IT IS NOT IN THEIR INTEREST TO DO SO. Talk is cheap--actions are meaningful.
Again, my point about transparency was NOT addressed--so, what's the money going to be used for and how is it going to be be monitored? IMO, just another mechanism to siphon money towards greedy politicians.
22 February 2013, 23:35
01
Also FT, you failed to answer the question--what is the source of Aoun's and Bassil's wealth?
You want to deflect (usual strategy) or do you want to address (almost never)?
22 February 2013, 12:44
34
There is no disagreement between M8 and M14 foes on this issue. Spectrum is a well known firm and all the procedures are being conducted in a transparent way by both parties, Spectrum and the Ministry.
Spectrum provides the scan info to potential bidders. The bids will be reviewed by our Petroleum Authority which is made up of both M8 and M14 specialists.
Things look promising. No need to be pessimistic all the time.
22 February 2013, 21:35
11
What do you know about the petroleum authority that makes you think that they are both M8 and M14 representatives--just because a member is from a certain sect, it should not automatically that they are represent one side or another. AFAIK, I haven't seen anything on the bios of these representatives and what makes them experts on the matter.
If there is, please direct me.
22 February 2013, 14:03
163
It can be paid with the billion Bassil and father in law stole.
