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Israel Received Bids from Greek & Indian Firms to Explore Offshore

Source: Reuters 11/15/2017, Location: Middle East

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Israel said it received bids to explore for oil and gas in its economic waters from Greece’s Energean and a consortium of Indian firms including ONGC Videsh, Bharat PetroResources, Indian Oil Corp and Oil India.

Israel hoped it would draw 2-3 foreign firms to come drill in 24 new offshore blocks in its latest bidding round that opened a year ago.

Israel’s Energy Ministry said it would spend the coming weeks examining each bidder’s offer and work plan before making a final decision. It said it will hold another bidding round next year.

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