Israel to open up offshore for exploration20 November 2015
Israel plans to open up more of its offshore territory to explorers when its new gas regulatory framework comes into effect at the start of next year, according to Yuval Steinitz, the minister of national infrastructure, energy and water resources.
Steinitz told the Universal Oil and Gas conference in Tel Aviv on Tuesday by announcing that he had already instructed his ministry to open up the country’s exclusive economic zone for new exploration.
He said only 25% of the country’s waters had been explored for hydrocarbons, and research commissioned by the ministry from international advisors indicated that sizable deposits of both oil and gas could still be hidden there.
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