The Levant Basin Province is a deep marine basin with water depths of 1,500-2,000m which encompasses an area of approximately 83,000 sq km in the eastern Mediterranean between Lebanon, Cyprus, Israel and the Palestinian Territories (the Levant Basin States). The basin lies between four geological boundaries (the Levant Transform Zone, the Tartus Fault, the Eratosthenes Seamount, and the Nile Delta Cone). Existing geological assessments indicate that the area holds potentially rich hydrocarbon plays formed from a variety of geological structures. Several petroleum systems have been identified in the area, and potential prospect types include four-way dip closure structures and stratigraphic traps.

Several fields have already been discovered, with promising prospects as exploration continues. The discovered fields are estimated to hold significant reserves in excess of 25 TCF (Leviathan (16-20 TCF), Tamar (8.3 TCF) and Dalit (0.4 TCF) fields).

Opportunities in Lebanon