Exploration & Production

Israel mulls lack of offshore interest

Israel will consider how it can make its acreage more attractive after its first offshore licensing round drew only two bidders Israel will consider how it can make its acreage more attractive after its first offshore licensing round drew only two bidders.
By Verity Ratcliffe 16 November 2017 0 28417
yuval Steinitz, israel's energy minister Israeli Energy Minister Yuval Steinitz. (PA)

The Israeli government may be rueing a missed opportunity after its first offshore licensing round drew a muted response from international players.

The round attracted bids from Energean, an East Mediterranean-focused explorer, and a consortium of Indian companies comprising ONGC Videsh, PetroResources, Indian Oil Corp. and Oil India Ltd. 

Having spent more than a year touting the merits of its offshore acreage – including a round-the-world roadshow – the ministry may be disappointed not to have received bids from other companies. 

Gina Cohen, a gas consultant and lecturer...