Arab Today, arab today lebanon has 30tr cubic feet of gas
Last Updated : GMT 05:58:16
Arab Today, arab today
Arab Today, arab today

Lebanon has 30tr cubic feet of gas

Arab Today, arab today

Arab Today, arab today Lebanon has 30tr cubic feet of gas

Beirut - AFP

Preliminary surveys of Lebanese offshore fields show reserves of 30 trillion cubic feet of natural gas and 660 million barrels of oil, Lebanon\'s energy minister said on Thursday, adding that production could begin within four years. Speaking at the Arab Economic Forum, Gebrane Bassil said scanning was now complete on 70 percent of the country\'s territorial waters -- an area of some 15,000 square kilometres (5,791 square miles). \"In just 10 percent of that area... we have 30 trillion cubic feet (850 million cubic metres) of gas and 660 million barrels of oil,\" he said. Speaking to AFP, Bassil said the amounts were \"very large and promising as initial estimates.\" Production from the reserves was linked to the speed of the exploration phases and installation of wells, but \"theoretically ranges from three to seven years.\" \"If we meet all the deadlines, we hope to have completed the first exploration phase in the period between 2016 and 2017 and to begin thereafter development and production,\" he added. Last month, Bassil announced the name of 46 firms that had qualified to bid on a first round of licences to explore Lebanon\'s offshore fields, with 12 qualified to bid as operators. The bidding round opened on May 2 and is scheduled to be completed by November 4. The process has been complicated by Lebanon\'s fragile political climate, with a caretaker government currently in charge, as Tammam Salam tries to form a consensus cabinet. In January, Bassil said Lebanon hoped to have exploration contracts with international oil companies signed and sealed by the end of the year. He has played down the risk of conflict with Israel over the potential reserves, despite a longstanding dispute over the maritime boundary between the two neighbours, which remain technically in a state of war. In August, parliament passed a law setting Lebanon\'s maritime boundary and Exclusive Economic Zone. But Lebanon has submitted to the United Nations a maritime map that conflicts significantly with one proposed by Israel, arguing that its map is in line with an armistice accord drawn up in 1949, an agreement not contested by Israel. The disputed zone consists of about 854 square kilometres (330 square miles), and suspected energy reserves there could generate billions of dollars. Lebanon has been slow to exploit its maritime resources compared with other eastern Mediterranean countries, with Israel, Cyprus and Turkey much further along in the process of drilling for oil and gas.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lebanon has 30tr cubic feet of gas Arab Today, arab today lebanon has 30tr cubic feet of gas

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday