NEOS Identifies Frontier Oil & Gas Province in Lebanon

Source: www.gulfoilandgas.com 7/27/2015, Location: Middle East

NEOS has announced the promising findings from a regional oil & gas prospectivity study that it completed in Lebanon. NEOS believes a frontier oil & gas province is now emerging in the country.

Jim Hollis, NEOS President and CEO, commented:
'After completing an extensive interpretation of the geoscience datasets we acquired, we identified many indicators of a hydrocarbon system. Given that only seven wells have ever been drilled in Lebanon, I believe the potential upside from additional exploration – including drilling – is huge. It has been a pleasure to work with the Lebanon Ministry of Energy & Water, the Lebanon Petroleum Administration (LPA), and Petroserv – our local partner – on this hallmark project.'

The results came from the company’s neoBASIN™ study to evaluate the prospectivity of a 6,000 km2 area encompassing the onshore northern half of the country and the transition zone (TZ) along the Mediterranean coastline. Insights from the neoBASIN interpretation revealed tell-tale signs of a highly prospective hydrocarbon system:

Evidence of hydrocarbon-generating source rock and oil seeps;
Evidence of large structural traps, with several containing resistivity anomalies;
Evidence of multiple ‘stacked’ play types throughout the project area.

His Excellency Mr. Arthur Nazarian, Lebanese Minister of Energy & Water, commented, 'This neoBASIN project has put the topic of onshore oil and gas exploration on the top of our national agenda once again. As an indication of the importance in which we hold this project, the Ministry will begin undertaking all of the necessary procedures to ensure the development of a vibrant onshore exploration sector.'

NEOS CEO Hollis concluded, 'We are developing plans to acquire additional data, including seismic over the most promising structures, to further de-risk the opportunity and to secure the capital needed to drill the most promising locations. I look forward to our continued collaborations with the Ministry, the LPA and Petroserv.'


Tanzania >>  8/1/2022 - Scirocco Energy, the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, provides t...
Canada >>  7/25/2022 - Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has secured USD 2 million in prefunding for a multi...

Norway >>  7/25/2022 - Green Energy Group (SBX Plc, the Company) is pleased to announce that it has received a Letter of Award for a 2D campaign in the Eastern Hemisphere wi...
United Kingdom >>  7/25/2022 - Green Energy Group (SBX Plc, the Company) is pleased to announce that it has received a Letter of Award for a 2D campaign in the Eastern Hemisphere ...

United States >>  7/25/2022 - With reference to our press release from the 20th of June 2022, we are pleased to announce that the conditional award has been converted into an award...
Indonesia >>  7/22/2022 - A big 3D exploratory acquisition contract offshore Indonesia has been given to PGS by a significant energy business. A significant 4D acquisition cont...

Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.