Israel Launches Fourth Offshore Exploration Bidding Round

Wednesday, December 14, 2022

Israel's energy ministry on Tuesday announced the launch of the fourth bidding round for gas exploration rights in Israeli waters.

As part of the fourth offshore exploration bidding round, four groups of exploration licenses (Zones) will be offered.

An exploration license will be granted for an initial period of three years to the successful bidder, subject to a further two-year extension provided that companies file a work program that includes offshore drilling. 

Also, to ensure the participation of as many new groups as possible in the round, the Ministry said it had decided to limit the number of clusters that each group can win to only two. 

Israel, which produces gas from Tamar and Leviathan gas fields in the Mediterranean, hopes that the offshore exploration round will unearth further gas supplies for its economy, increase competition between gas suppliers, and lower the price to the local consumers. It is also looking to export gas abroard.


Categories: Energy Middle East Drilling Industry News Activity Mediterranean Sea

Related Stories

Enersol to Acquire Deep Well Services in $223M Deal

Vantage Drilling Concludes Sale of Two Jack-Ups to ADES

TotalEnergies Makes Additional Gas Discovery at Harald Field in Danish North Sea

Current News

Migatron Launches New Ultrasonic Sensor

Brent Field Decommissioning Project Enters Next Phase

Orsted says US Green Energy Demand Will Grow Regardless of Election Results

Norclamp Introduces Infinity Clamp for Aging Subsea Pipelines

Subscribe for OE Digital E‑News