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Lebanon launches onshore oil and gas survey

Published October 2, 2013 Updated October 2, 2013 05:44pm

BEIRUT: Lebanon launched an onshore oil and gas survey on Wednesday, hoping that promising results from surveys of its Mediterranean waters can be matched by similar prospects onland.

Energy Minister Gebran said he hoped the results of the first onshore 2-D seismic survey near Batroun, about 40 km (25 miles) north of Beirut, would be available by the end of the year.

Bassil said in May that the offshore seismic surveys indicated Lebanon has at least 30 trillion cubic feet in just a small part of its territorial waters.

It has selected 46 international oil companies to bid to explore for gas offshore, but the process has been delayed by political paralysis since the resignation of Prime Minister Najib Mikati more than six months ago.

Mikati's designated successor, Tammam Salam, has failed so far to form a new government and Mikati's caretaker administration does not have the authority to approve exploration contracts.