The completion of the CedarsOil Lebanon neoBASIN Project: A cornerstone towards an Onshore O&G Industry
08 June, 2015

The US-based company and leader in Multi-measurement subsurface interpretation, Neos GeoSolutions, will announce on Wednesday June 10th, with the support of its local partner Petroserv, the completion of Lebanon’s geoscience program and the data delivery to the Ministry of Energy and Water. The Ceremony will be held in Beirut at Hilton Metropolitan Palace and will be under the Auspices of H.E Eng. Arthur Nazarian.


The project’s completion comes only 10 months after the start of the Airborne acquisition operations back in October 2014, which is considered as a huge accomplishment for both Neos and the Ministry, as this period covered acquiring, integrating, processing & interpreting data. This geoscience survey over an area of 6,000 square kilometers along the Transition Zone (TZ) and the northern part of Lebanon’s Onshore, mapped the country’s subsurface structure and the Oil & Gas prospectivity by integrating legacy wells and 2-D seismic data with the newly acquired airborne geophysical datasets.


Therefore, Wednesday’s event comes to officially declare the delivery of deliverables to the ministry team in presence of Officials, ambassadors, International Oil Companies and local & international media. In addition, it will not only attract Offshore companies, and the ones that have already pre-qualified to the first Licensing round, but also those interested in Onshore exploration, and will open the eye on the Onshore Lebanese O&G industry which has been neglected for decades. Having a pre-established study and interpreted data can help companies to know where to explore, where to lease and where to drill. As for the Onshore Law that is still under discussion in the Lebanese Parliament, the Announcement Ceremony will be an opportunity to emphasize on its importance in order to launch the onshore sector, and will encourage officials to move forward with its approval without further delays.


Big efforts have been made by all concerned parties in order to ensure the success of this ceremony, as it will send a clear message to local and international communities, insisting on the idea that despite the continuous political deadlock that has been blocking the industry, the serious work is still ongoing and the projects having a direct benefit on the sector’s future are being accomplished.


Note that this event will be forerun by the Second Forum on Oil and Gas “Governance and integration” which was held at ESA campus on June 8 with a wide panel of local and international key speakers. The Forum had been broadcasted live on LBC and it was remarkable the large coverage from Lebanese and International media.


After the Lebanese Diaspora Energy conference and Lebanon Forum on Oil and Gas “Governance and integration”, Lebanese people are waiting for the 3rd important event in less than a month related to the energy sector; The announcement ceremony will give the hope and enthusiasm to relaunch the Lebanese oil and gas industry when Lebanese are waiting for the approval of all the famous decrees.

Related Articles:
Oil & Gas Forum: Governance & Integration at ESA Beirut
Oil & Gas Forum: Governance & Integration - The Program
Lebanon Onshore Oil and Gas ‘Promising

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