ION Geophysical secured a contract to conduct a seismic survey offshore Lebanon, Energy and Water Minister Gebran Bassil announced.
As Daily Star reports, ION will carry out the survey 40 km beneath the seabed.
The survey is expected to determine whether the country’s petroleum potential deposits of Levantine Basin are in the form of oil or gas.
ION will fund the seismic survey, and Lebanon will earn between 15 to 50 percent of the revenues from data sales.
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Subsea World News Staff, April 4, 2013; Image: ION