Fossil Energy – Licences Israel
Israel’s Energy Ministry said on Sunday it had awarded 12 licences to six companies to explore for natural gas off the country’s Mediterranean coast, aiming to create more competition and diversify suppliers.
The licence awards, which came as the Israel-Hamas conflict entered its fourth week, included one group led by Italy’s Eni along with Dana Petroleum and Israel’s Ratio Energies which will explore in an area west of the massive Leviathan field, which supplies Israel with gas and is also used for export.
A second group, involving Azerbaijan’s national oil company Socar along with BP and Israel’s NewMed, will explore north of the Leviathan, the ministry said.
The licences will last for an initial three years, with the option to extend to up seven years, depending on progress.