Four groups of companies have submitted bids for the latest Israeli tender for offshore hydrocarbon exploration, according to the Energy Ministry.
The licenses for the four exploration zones on offer by the Jewish State include 20 blocks, the ministry said.
Nine companies comprise the four groups, include five firms that are new to the Israeli market. None of the companies were identified.
“The scope of the proposals and the diversity of bidders means new companies will explore for natural gas in Israel’s economic waters,” the ministry said in its statement.
Over the past decade, Israel’s natural gas reserves have grown by 40 percent, due to increased drilling and exploration, according to a report prepared by BDO consultants for the Israeli Natural Gas Trade Association.
The report notes that Israel’s gas reserves grew from 780 billion cubic meters (bcm) in 2012, to 1,087 bcm in December 2022.
The discoveries made during that period include the natural gas found by Energean in the Karish and Katlan fields, as well as the discoveries of the Tamar gas field and Israel’s largest gas reserve, the Leviathan field, by a group led by Chevron (formerly Noble Energy).
