This is a gas-prone area. Recent discoveries and increased exploration activity in the form of license rounds, seismic acquisition, and offshore drilling, make the Eastern Mediterranean an exciting region.
The International Energy Agency predicts that natural gas demand will continue to increase globally towards 2030, complementing renewables as the world transitions towards a more sustainable and cleaner energy mix. Multiple working hydrocarbon systems have been established across both the onshore and offshore areas, with major discoveries now proven in both clastic (Leviathan) and carbonate (Zohr) reservoirs in the offshore region.
PGS has a significant track record in the region and offers high-quality MultiClient 2D and 3D exploration seismic data for Sicily, Greece, Egypt, Cyprus, and Lebanon. This vast data library extends over a number of geological domains. Our MultiClient dataset for the Nile Delta covers one of the most mature offshore areas in the region. Other areas are largely frontier in comparison.
Exploration challenges include presalt imaging and the resolution of the underlying carbonate and clastic reservoirs. These challenges are addressed with high-density GeoStreamer data and the use of modern imaging workflows.
Licensing round activity in the region and drilling campaigns that will test presalt reservoirs offshore Cyprus and Lebanon have generated excitement from E&P companies looking for frontier acreage in the early stages of play development. Direct negotiations and future licensing rounds in Egypt and Lebanon will afford attractive opportunities.
- Egypt has launched a 2021 offshore licensing round in areas covered by PGS MultiClient data
- Extended Deadline for Lebanon 2nd Licensing Round will be concluded before the end of 2021