Regional Report: Eastern Mediterranean

Plans are slowly taking shape to develop what could become a major oil and gas province in the Eastern Mediterranean. Noble Energy’s major gas discoveries, including Tamar and Leviathan fields offshore Israel, and Aphrodite field offshore Cyprus in the Levant basin, have kindled hopes of additional offshore finds along the Levantine coasts of Syria, Lebanon, Israel and the Gaza Strip. Greece and Turkey are also taking advantage of the upsurge of interest in the Eastern Mediterranean region to boost exploration in their waters. In fact, in late 2014, Turkey deployed a seismic survey vessel offshore Cyprus, over blocks that the Cypriot government had already leased to some of the international oil companies, such as Noble Energy, Total and Eni.

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