Israel's offshore in search of regulatory shake-up
The country's latest licensing round failed to lure IOCs to its upstream
Twice delayed, Israel's offshore licensing round for 24 blocks closed on 15 November. It was a disappointment: the only submissions were from Greece's Energean, and a consortium of four large Indian corporations: ONGC Videsh, Bharat PetroResources, Indian Oil and Oil India. It's hard for Israel to put a brave face on it. This is the first bidding round since the granting of offshore licenses was suspended four years ago. The disheartening reality Israel has to face is that ever since the its first domestic, offshore gas discovery in 2000, the country has struggled to attract and keep investment from international oil companies. The Ministry of Energy has promised another licensing round in 2
Also in this section
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing