Israel has awarded six licences via its bid round, with areas going to new entrants including Eni and BP.
Minister of Energy and Infrastructure Israel Katz said “major natural gas exploration companies put their trust in Israel’s robustness and want to invest here. The winning companies have committed to unprecedented investment in natural gas exploration over the next three years, which would hopefully result in the discovery of new natural gas reservoirs.”
This will underpin the country’s energy security, he said, improve international relations and cut the cost of living.
“I would like to thank the staff of the Ministry’s Natural Resources Administration for their hard and diligent work, in this time when many employees have been called up, to keep pushing the Israeli energy market towards a cleaner and more secure future.”
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