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Israel’s Energy Ministry said Sunday it awarded 12 licenses to six companies, including BP (NYSE:BP) and Eni (E), to explore for natural gas off the country’s Mediterranean coast.
BP (BP) won the Zone I-6 license as part of a consortium with NewMed Energy (OTCPK:DKDRF) and Socar, the Azerbaijani state energy company that will be the block’s operator, to explore in an area north of the massive Leviathan field, which supplies Israel with gas and also is used for export.
Eni (E) was awarded the Zone G-6 licenses as the operator of a group that includes Dana Petroleum and Ratio Energies which will explore west of the Leviathan.
Israel, which is a net exporter of gas, shut down its Tamar offshore field as a precaution at the start of its campaign against Hamas; until the October 7 Hamas attack, ~20% of production from Leviathan and Tamar fields went to the domestic market, while the rest was exported.
