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Giant oil prospects lie in distal portion of offshore East Mediterranean basin

10/06/2008
By James M. Peck
The onshore and offshore portions of the Eastern Mediterranean basin (Fig. 1) have proven to be a prolific hydrocarbon producing area. As of December 2006, oil reserves are 15 billion bbl and gas reserves are 100 tcf. Click here to enlarge imageThe tectonic evolution of the basin is interpreted to have proceeded through the following five stages:A Late Triassic to Early Jurassic transtensional rift period.A Middle Jurassic to Early Cretaceous sag period.A Late Cretaceous to Early Paleogene alpine inversion period.A Late Paleogene to Miocene internal plate adjustment period.—Oligo-Miocene Gulf of Suez rifting.—Miocene Red Sea rifting.—Messinian salinity crisis.A Pliocene ...
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