The Daily Star - Business Articles - Oil expert urges Lebanon to conduct 3D study of deposits

The Daily Star - Business Articles - Oil expert urges Lebanon to conduct 3D study of deposits

An energy expert told The Daily Star last month that Lebanon's reserves could yield 70,000 to 90,000 barrels per day. If oil prices hold near $60 per barrel, Lebanon could earn $60 billion over 20 years from oil sales.

"Ten years ago it was unreal to the government that there could be oil," Mourad said. "But now, they want to move forward with the project."

A number of international firms, including Shell, Occidental, Total Elf Fina, Petrocanada, Amerada Hess, and Reading and Bates have shown interest in bidding to drill in Lebanon.