NEOS GeoSolutions, Inc. stated that it has received, with the full support of its local partner Petroserv SAL, all the necessary permits and begun airborne acquisition operations on its previously announced CedarsOil project, agreed to by NEOS and the Lebanese government, represented by the Ministry of Energy and Water.
This geoscience survey, which is trade named a neoBASIN™ and covers 6,000 square kilometers, including the transition zone (TZ) along the Mediterranean coastline and the northern part of the country, has been designed to obtain geophysical property measurements of the Earth which oil & gas companies then analyze to determine the area’s potential for hydrocarbon exploration and development. The survey has been approved and permitted by key governing bodies within Lebanon, including the Lebanon Petroleum Authority (LPA), the Lebanese Army, and the Lebanese Air Force.