Spectrum Energy completes Lebanon offshore survey
The survey carried out by Spectrum Energy over Lebanon's entire Mediterranean aquatory was completed. The seismic
data is said to indicate potential offshore hydrocarbon deposits.
Spectrum was contracted to conduct the current survey by Lebanon's Ministry of Energy and Water. The company's
geophysical experts and Energy and Water Minister Mohammed Abdel-Hamid Beydoun presented the findings.
They said that data from the latest shoot shows Lebanon has geological features that are indicative of hydrocarbons,
but that their presence can only be proven through exploratory drilling. These latest revelations of hydrocarbons off
Lebanon reinforce Spectrum's findings with its 2000 survey, which covered the international waters of the
Mediterranean Sea off Lebanon.
The 2002 acquisition, some 12,300 km of new data, ties into the 2000 shoot and infills much of the offshore area not
only of Lebanon, but of Cyprus and Syria and 11 wells that have previously been drilled.
Beydoun said the data indicates the hydrocarbon potential is best off the northern part of the country rather than
its south. It also provides an opportunity for explorationists to evaluate both Lebanon's 12-mile territorial waters
and its outer Exclusive Economic Zone.
Spectrum will receive 80 % of the revenues received from oil companies interested in the data. The Lebanese
government will receive the remaining 20 %.
