‘High probability’ of finding oil and gas in Lebanon

Thank you for your reading and interest in the news ‘High probability’ of finding oil and gas in Lebanon and now with details

Aden - Yasmin Abdel Azim - : Although there is no confirmation about oil and gas reserves in Lebanon, it is a “high probability” to be confirmed by early 2020, Fouad Siniora, Lebanon’s former Prime Minister said.

“First of all nobody knows whether we have proven reserves. What we have is high probability. So, once they [exploration companies] start digging in January, I hope they will extract something,” Siniora told the Emirates News Agency, WAM, in an exclusive interview in Dubai.

In February 2018, Lebanon signed its first offshore oil and gas exploration, and production contracts, for two energy blocks with a consortium of France’s Total, Italy’s Eni and Russia’s Novatek.

The natural resources of Lebanon include limestone, iron ore, and salt.

Siniora said the exploration companies had conducted seismic surveys, studies and analysis before taking a decision to invest money in explorations in Lebanon.

“Had it not been positive, they would not have invested their money,” Lebanon’s Prime Minister from 2005 to 2009 said.

Media reports quoting the Lebanese Petroleum Administration, said an LPA document revealed the potential for several gas-prone and oil-prone source rocks in the Levant basin and noted that these rocks have reached maturity.

These were the details of the news ‘High probability’ of finding oil and gas in Lebanon for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Gulf News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Japan raises relief by additional $154b
NEXT Lockdown forces up India's jobless numbers