The Israeli Ministry of Natural Infrastructure, Energy and Water Resources has released plans to launch an offshore bid round to expand offshore exploration and production activities, which is part of wider plans to develop Israel’s offshore hydrocarbon resources, and to make Israel a center for the petroleum industry.
ERM oil and gas partner, Asaf Rimon, commented: “After a four year period of not granting any new off shore exploration blocks, the Israeli government is making a strong move to further develop its oil and gas industry. I am certain that the 24 offered blocks will attract international attention and bids.”
Please click here to read our memo on the bid round.
ERM’s oil and gas team
ERM has gained significant experience and expertise advising oil and gas companies, suppliers, investors and financiers on a wide range of complex upstream, midstream and downstream projects, acquisitions and disposals carried out both in Israel and abroad.