Recent discoveries and increased exploration activity in the form of license rounds, seismic acquisition, and offshore drilling, make the Eastern Mediterranean an exciting area.
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 Deltacovers one of the most mature offshore areas in the region. Other areas are largely frontier.
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.
Drilling campaigns that will test presalt reservoirs offshore Cyprus and Lebanon and licensing round activity in the region has 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 is expected to launch a licensing round in 2021. Meanwhile, the Extended Deadline for Lebanon 2nd Licensing Round will be before the end of 2021.