Caretaker Minister of Energy and Water Walid Fayad handing over the license to TGS representative during a press conference at the ministry. (Credit: NNA)
On Tuesday, Lebanon's Minister of Energy and Water, Walid Fayad, relaunched the process of 3D seismic surveys in one of the blocks of the exclusive economic zone (EEZ), where Lebanon has long hoped to confirm the presence of offshore hydrocarbons. The ministry granted a new license to TGS, a company specializing in seismic exploration, to conduct these surveys.
“The license allows for a 3D seismic survey covering 1,300 square kilometers in Block 8. TGS will also analyze existing data from across the Lebanese Sea, utilizing modern and advanced technologies,” explained Fayad at a news conference in Beirut, where he formally handed over the license to a company representative.
This process marks the reactivation of an initiative originally launched in August 2023, before the outbreak of the Gaza war, which had been temporarily halted due to security concerns. At that time, the Ministry had granted an initial license to UK-based Geoex MCG and Brightskies Geoscience (BGS), aiming to boost the appeal of Lebanon's offshore hydrocarbon potential and explore the seabed under Lebanese sovereignty.
According to a source familiar with the matter, the license was granted to TGS by mutual agreement. TGS is the result of a recent merger between the American company PGS and the Norwegian firm TGS. Both companies had previously conducted Lebanon's first 2D and 3D seismic surveys in 2000 and 2010. In 2019, TGS further strengthened its position by acquiring Spectrum, a company also involved in seabed surveys in Lebanon’s exclusive economic zone (EEZ).
Block 8 is one of three blocks located near the maritime boundary between Lebanon’s exclusive economic zone and that of Israel. The border dispute between the two countries was resolved through an agreement reached in October 2022, following U.S.-brokered negotiations. Meanwhile, the exploration process for some of Lebanon’s EEZ blocks, launched in 2018 and entrusted to a consortium led by TotalEnergies, has yet to produce any concrete results.