Offshore Lebanon MC3D Phase I

PGS in cooperation with the Ministry of Energy and Water are pleased to announce that they have signed an agreement on multi-client MC3D seismic for offshore Lebanon.

Phase 1 acquisition involved approximately 2900 sq km of MC3D seismic data acquired in the 4th Quarter 2006 and 1st Quarter 2007. The acquisition area is divided into two surveys; One N-S survey covering the Levant Basin (1550 sq km) and one E-W survey (1350 sq km). Half of the E-W survey is in offshore Cyprus and covers about 700 sq km. The datasets are available and lie within water depths of 1500m. Phase 1 will form the basis for a future licensing round to the industry in 2008.

summary of Acquisition

22.05.07 Shell discovery in Nemed Block