Exploration & Production

Israel to adjust terms ahead of licensing round

Israel is expected to modify its contract terms in the hope of attracting more interest in its second licensing round, planned for later this year Israel is expected to modify its contract terms in the hope of attracting more interest in its second licensing round, planned for later this year.
By James Gavin 13 June 2018 0 31277
The Atwood Advantage drillship in Israel’s Leviathan field The Atwood Advantage drillship in Israel’s Leviathan field. (Noble Energy)

Israel plans to improve the terms of its contracts for IOCs before its second offshore licensing round, which Energy Minister Yuval Steinitz has said will be launched between September and November this year. 

Israel will modify its terms to make exploring its offshore acreage more attractive, Steinitz told Reuters last week. The country’s first offshore auction, which was held last year, received a tepid response. 

An Energy Ministry spokesperson told Interfax Natural Gas Daily that no details were available yet on the terms and...