Spectrum to acquire Lebanese multi-client 3D survey

The pure-play multi-client services company said that it expected the acquisition to be completed before the end of September 2012, while the Lebanese government indicated that it would open its first-ever licensing round upon completion of the final product in early 2013.

Spectrum executive vice-president David Rowlands said, “Since the discovery of giant gas fields in the eastern Mediterranean, there has been a stampede to explore the deepwater of the Levantine Basin.

“Spectrum has been instrumental in providing data and knowledge to enhance awareness of this basin.

“With this strategically-placed 3D survey we will complete the geological picture allowing clients to fully evaluate the prospectivity,” he added.

The company will conduct the first phase of the MC3D survey in the south west EEZ (Exclusive Economic Zone) offshore Lebanon for the Ministry of Energy and Water (MEW) of Lebanon and will collate 1,500 sq km of data in cooperation with Dolphin Geophysical using its Polar Duke vessel.

Upon completion, the two firms will have collected data on an area measuring up to 3,000 sq km for the Lebanese government.