Bassil: Lebanon Ready To Oil Drilling, One Southern Well To Provide 99 Years Electricity

Local Editor

Lebanese Energy Minister Gebran Bassil announced Monday that "Lebanon is technically ready to start natural gas drilling from sea reserves."

"After the exploration in around half the Lebanese exclusive economic zone was completed, we has now reached the stage where we can start drilling for gas," Bassil revealed.
On a tour to the Southern Lebanese oil area, the minister reiterated that "we are technically ready to start issuing permits to enable oil extraction."

"Two companies working with the Lebanese authorities specialized in three-dimensional exploration have already surveyed around half the exclusive economic zone (EEZ)," Bassil highlighted.

In parallel, he unveiled that " the survey showed the existence of numerous gas reservoirs that are scattered from the North to South."
According to preliminary estimates, one of several blocks in the area, named Ghazi contains a potential 12 trillion cubic feet of gas that could meet Lebanon\'s electricity production needs for 99 years.

In response to a question whether "Israel", which has started exploring an area near the Lebanese border, might try to hinder any oil exploration by Lebanon, Bassil said "this is unlikely to happen."
"Our presence here today proves that there is no threat to our investments or our right to these resources," he said.
The minister also mentioned that "the gas is everywhere, not just in the South, and we can start extracting it in any other point until we resolve the demarcation of the exclusive economic zone with Cyprus."

Source: al-Intiqad, Translated and Edited by moqawama.org