Summary
All 2-D seismic onshore surveys for gas and oil in Lebanon have been halted until the government launches the licensing round for oil and gas exploration off the country's coast, insiders said Monday.
According to a source close to the Petroleum Administration, the British-based company Spectrum has decided to suspend its onshore 2-D seismic survey in Lebanon, due to the fact that politicians have been so slow to launch the offshore licensing process.
However, informed sources say that after completing the first phase of the onshore survey, Spectrum has decided to suspend the operation until the government sends out a clear signal that it is sincere about launching the offshore gas licensing, which has been postponed five times.
In October 2014, the U.S.-based company NEOS Geo Solutions conducted the first airborne oil and gas surveillance operation over parts of Lebanon in another bid by the authorities to assess whether oil and gas deposits could be present in the country.
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