Energy Minister Eli Cohen said expanding natural gas exploration and attracting major international energy companies were central to his policy.
By Pesach Benson, TPS
Israel has awarded six natural gas exploration licenses to US energy company Murphy Oil and Israeli firm Ratio, bringing a new international operator into the country’s energy sector.
Murphy will serve as operator, with each company holding a 50% stake, the Energy and Infrastructure Ministry announced Monday.
Energy and Infrastructure Minister Eli Cohen and Petroleum Commissioner Chen Bar Yosef granted the licenses following a recommendation by the Petroleum Council.
The companies have committed to an intensive work program that includes seismic surveys and several exploratory drillings.
The licenses were originally awarded in October 2023 to a consortium led by Italy’s ENI, alongside Britain’s Dana Petroleum and Ratio.
ENI subsequently withdrew, prompting a change in the consortium’s composition.
Dana Petroleum may still rejoin the project, subject to ministry approval, under an existing commercial option.
Cohen said expanding natural gas exploration and attracting major international energy companies were central to his policy, citing the resource’s importance to Israel’s economy, exports, and regional standing.
The ministry is also considering changes to eligibility requirements for its fifth licensing round, scheduled to accept bids through Jan. 27, 2027.
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