US independent Murphy Oil has entered Israel’s offshore exploration sector as the operator of six licenses in the multi-block Zone G alongside Ratio Energies. The acreage was first awarded to an Eni-led consortium three years ago, but the Italian major subsequently pulled out.
The licenses, granted on 8 November and effective the following day, cover 1,733km² roughly 75-95km offshore Tel Aviv and 25km southwest of the Leviathan gas field. Murphy (50%, operator) and Ratio (50%) will explore the acreage, marking the US firm’s entry into Israel and the wider Mediterranean. (CONTINUED - 849 WORDS)
