The Sinai-Levant Basin comprises the easternmost portion of the Mediterranean along with the onshore region extending from the Sinai Peninsula to Syria. The potential of the basin was proven with the giant Tamar and Leviathan gas field discoveries Israel. The Aphrodite discovery proved the extension of the deepwater Oligo-Miocene play into Cypriot acreage, and the play is also thought to extend into Lebanon. No licensing has yet been completed in the Lebanese portion of the basin. The inaugural round was planned in 2012, but political differences led to delays. Prequalification was eventually completed in 2013, but political instability led to stalemate in the regulatory processes. In this brief report Wood Mackenzie summarises the key issues facing explorers in Lebanon, and provides details of the geology of the play and the fiscal and regulatory terms that will apply once key legislation is eventually ratified by parliament.
Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.
Explorers and advisors can use this report to understand the history and potential value of this basin.
Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.
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Asset report | Nov 2016
Lebanon Sinai Levant exploration basin
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