Borj Al Ghazal Bldg, General Fouad Chehab Avenue, Tabaris - Achrafieh, Beirut, Lebanon
The Lebanese territorial waters are believed to contain large reserves of crude oil and natural gas. This has been validated by the results of recent seismic surveys and actual exploration activities in the entire East Mediterranean region. The undiscovered resources of this area have been estimated in 2010 by the highly-respected US Geological Survey (USGS) at around 1.7 billion barrels of crude oil and 122 trillion cubic feet of natural gas.
Neighboring countries have been very active in exploring their own territorial waters. Results have shown that the actual reserves may very well exceed the USGS estimates, particularly in terms of non-associated natural gas reserves.
International companies along with national investors and Lebanese communities are all bracing themselves to get the benefits from those huge opportunities, which will surely change the entire business culture in Lebanon.