Lebanon could overtake Cyprus to become the East Mediterranean key exploration hotspot. Its initial bid round – due later this year – is set to incorporate freshly-shot 3D seismic. This should greatly expedite first drilling– if the country’s politicians get their act together and launch bidding in a timely fashion.
Although Lebanon remains virgin exploration territory a detailed 3D seismic survey of the country’s offshore is underway. Bidders in the country’s upcoming initial bid round will have access to freshly-shot seismic but will in return be expected to propose the number, location and timing of planned exploration wells as part of their submission, MEES understands. (CONTINUED - 859 WORDS)