LONDON (Reuters) – BP and Azeri national oil company Socar have taken part for the first time in an Israeli licencing round for natural gas exploration, the latest sign of growing international interest in the Eastern Mediterranean basin, sources said.
BP and Socar jointly placed a bid along with Israel’s NewMed Energy for two offshore blocks in the fourth licencing round that closed on Sunday, according to four company and industry sources.
It comes four months after BP and Abu Dhabi’s state oil giant Adnoc offered to jointly acquire 50% of NewMed for around $2 billion, potentially giving them an entry to Israel’s growing energy sector.
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