Lebanon Businessnews News
 

Gas exploration:
Close but no cigar!
Existence of gas reservoir

has not been verified

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The Ministry of Energy and Water (MoEW) presented initial results from drilling in the exploration well in ‘Block 4’. “The final detailed report will be issued at a later period after analyzing the data and samples obtained from the well,” it said.

The MoEW said: “The initial results of the drilling proved the presence of gas at different depths within the geological layers penetrated by the well in the geological region bordering the Lebanese coast (Basin margin area), which makes this region a promising geological region. As a result of the presence of gas in this well, the existence of the basic elements of a geological-oil system in the Lebanese sea has been verified. But the existence of a gas reservoir has not been verified.”

The MoEW said that the first exploratory well achieved one of its primary goals, which is to ascertain the nature of the geological layers and the similarities and differences between them and what is in the eastern basin, which enhances the understanding of the geological reality of part of the Lebanese sea. “Geological and petro-physical data, and what was obtained from this well, is a wealth of information that will contribute to enhancing the chances of a commercial discovery in the multiple locations identified in ‘Block 4’ and in more than 60 other potential areas.”

"The well is at least 100 km away from the nearest other exploration well in the Levantine basin of the Mediterranean. It is very valuable for understanding a new geological region that has not been excavated previously. The drilling activities have resulted in the acquisition of samples. They will be analyzed by Total and the oil authority in preparation for the modernization of the geological-oil system of the region,” it said.

The ministry said that data gathered from the first well in ‘Block 4’ will improve the analysis processes accompanying exploration work in ‘Block 9’ and will determine the best possible geological target in excavation work. "Despite the difficult global circumstances accompanying the coronavirus and despite the significant deterioration in oil prices, work is continuing in full swing to dig into ‘Block 9’ as soon as possible,” the MoEW said.

“The exclusive petroleum license granted under the Exploration and Production Agreement gives the consortium of companies the option to continue exploration activities in ‘Block 4’ after obtaining the results of analyzing the results of the first exploration well in it,” it said.

The ministry promised to keep the public informed of all future information coming out of the exploration process.
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Date Posted: Apr 27, 2020