Lebanon nets $34 million in seismic data sales

The Daily Star

The Energy and Water Ministry is expecting to receive applications from international oil companies to prequalify for Lebanon’s first offshore gas licensing round next week before the March 28 submission deadline, Minister Gibran Bassil told The Daily Star Tuesday.

So far, approximately 30 different companies from 20 countries have purchased seismic data of the potential reserves off the country’s coast for nearly $110 million, netting Lebanon over $34 million in revenues. Bassil said the ministry has already begun to whittle away interested companies that do not meet the criteria.


Source: The Daily Star FULL STORY