Inching closer to the edge of our seats
EN AR

by Matt Nash September 26, 2017

written by Matt Nash September 26, 2017

Photo by: Albatross via Getty Images

Regardless of what local banks keep proclaiming, Lebanon has no oil or gas. There’s reason to believe it does, but the process of finding out is only just beginning. On September 15, companies will bid for rights to explore for oil and/or gas offshore Lebanon. Executive takes a look at what that means, what to expect next, and answers other commonly asked questions. How much oil do we have? Only drilling will tell what Lebanon does or does not have. At the moment, it has blurry renderings of earth below the Mediterranean Sea. There’s much, “Wow, that could be something,” but until contracts are signed with companies capable of drilling to find out just what that “something” is, we simply will not know. Why does everyone seem to think Lebanon is rich in oil and gas? There is a lot of natural gas in the Eastern Mediterranean (East Med), and

Matt Nash

Matt was Executive's Economics & Policy Editor and Real Estate Editor from May 2014 to November 2017. He began reporting in Lebanon in April 2007, and his coverage focused on oil and gas, public policy and human rights.

1 comment

Sandra September 26, 2017 - 11:08 AM

“Lebanon can likely expect some big industry names to bid for drilling and production rights, but that has not actually happened yet.” – And it will most probably not happen for another 10 years. The lack of real commitment is slowing down the process of actually benefiting from what mother nature has provided us with.

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Inching closer to the edge of our seatsENAR

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1 comment

Inching closer to the edge of our seats
EN AR