The Minister of Energy and Water H.E. Raymond Ghajar held a press conference on the 27th of April 2020 to disclose the preliminary results of the completion of the first exploration well 16/1 in Block 4.
The initial drilling results showed the presence of traces of gas in the different geological layers through which the well penetrated in the geological area bordering the Lebanese coast (Basin Margin Area), which makes it a promising geological province.
Ghajar said that the existence of the basic elements of a geological petroleum system in the Lebanese waters have been established, however the existence of a gas reservoir has not been verified.
The first exploration well confirms the nature of the geological layers including similarities and differences between these layers and those that exist in the Eastern Mediterranean basin. This new information enhances the geological understanding of the region, as it will be integrated to the existing geological petroleum system and updates it.
In that regard, the geological and geophysical data obtained from this first exploration well is a valuable source of information that will contribute to improving the probability of finding a commercial discovery in the multiple locations that the Ministry of Energy and Water and the Lebanese Petroleum Administration identified in Block 4 and in more than 60 locations across the Lebanese waters.
Finally the Right Holder Operator will analyse the samples and cores obtained from the first exploration well and submit the final report to the Ministry of Energy and Water and to the Lebanese Petroleum Administration in two months.
With respect to Block 9, Ghajar noted that despite the difficult global circumstances accompanying the Coronavirus (COVID-19) pandemic and in spite of the significant deterioration in oil prices, work continues as per the signed Exploration and Production Agreement in preparation for drilling activities in Block 9, which are scheduled for 2021.
The data gathered from the first exploration well in Block 4 will improve the analysis processes related to the upcoming exploration activities in Block 9 and will help determine the best possible geological targets.