New Offshore Gas Bidding Round in Israel: Great Opportunity for Texas
December 5, 2016
Leadership from the Ministry of Infrastructure, Energy and Water Resources came to Houston November 29 - Dec 1 to present the final bid round details. Twenty four blocks have been designated as available for bids in Israel’s offshore waters in the Levant Basin, Eastern Mediterranean. The blocks are a maximum size of 400 km2, some of which are adjacent to recent world class gas discoveries in water depths of between 1500 and 1800 m. The closing date for bids on the offered blocks is programmed for March 2017.
This represents a terrific opportunity for Texas gas companies to explore gas in this resource-rich region of the Mediterranean sea. The Texas-Israel Chamber of Commerce has extremely strong connections within the Israeli ministries, and we will serve as a primary advocate and support for companies in Texas pursuing the current bidding round.