Spectrum starts Lebanon 3D Seismic

May 2, 2013

Spectrum has announced the start of another Multi-Client 3D survey in the Levantine Basin offshore Lebanon.

This new survey covers approximately 2,200 square kilometers and the acquisition will be performed by Polarcus using its 12-streamer vessel 'Adira'.

The survey covers both the northern part of the Levantine Basin and the basin margins and is located directly North of Spectrum's recent 3,052 square kilometer Multi-Client 3D survey that was acquired last year.

New survey lines fall within licensing blocks 1, 3, 5 and 6 of the first Lebanese offshore licensing round as announced by the Lebanese government in the official round opening on April 30.

The vessel has started acquisition and is scheduled to finish early June with a fast-track product being made available for delivery to clients by mid July 2013.

The final processed product will be available by the end of August, well in time before the closing of the Lebanese 1st licensing round in November 2013.

Successful interpretation of the existing 3D data acquired by Spectrum in 2012 has triggered the execution of this further acquisition to the north of the original survey.

The 2012 data, now available to license, indicates that these areas offshore Lebanon have a high likelihood for generation and trapping of thermogenic hydrocarbons.

It also indicates large, simple structures with a compelling reservoir case, suggesting that exploration drilling should provide good results.



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