Israel Struggles To Attract Interest In Offshore Acreage

Israel’s Energy Minister Yuval Steinitz will travel to Houston in December to round off an international roadshow that kicked off in London and Singapore earlier this month.

Mr Steinitz and his ministry team are trying to drum up interest in a bid round for 24 offshore blocks planned for early next year. But he faces an uphill task.

Official Israeli energy sources have dropped hints of majors being interested in the Israeli offshore, with ExxonMobil and Eni among those mentioned. But MEES soundings indicate that the large IOCs needed for deepwater exploration continue to be put off by regional geopolitical complexities. (CONTINUED - 1052 WORDS)