As Lebanon prepares to move toward exploring and developing its potential offshore oil and gas resources, the prospect is being dangled that hydrocarbon revenues could fix many of its problems.

In Lebanon’s exclusive economic zone, the offshore area in which it retains rights over any resources, there is a high probability that a significant amount of gas and perhaps some oil could be found, according to Spectrum, a company that carried out a three-dimensional seismic survey of a 3,000-square-kilometer, or 1,160-square-mile, zone off the country’s coast...continue reading