The Levant Basin: A New Frontier

With an estimated 1.7 billion barrels of recoverable oil and 122 trillion cubic feet (TCF) of recoverable natural gas, the Levant Basin Province in the eastern Mediterranean is an exciting new frontier for the oil and gas industry.

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.