Beirut - Independent company Kuwait Energy Company (KEC) is planning to bid for drilling rights in the Levant Basin off the coast of Lebanon. It was announced by KEC Chief Executive Sara Akbar who explained that the company has not yet entered into talks with the Lebanese government. According to estimates, there may be 1.7 billion barrels of recoverable oil in the Levant Basin, as well as around 122 trillion cubic feet of recoverable gas.