Israel gears up for distributing more oil licenses

Even though the Israeli government is still awaiting the result of its third round of tenders, preparations for a fourth round are already.

Israeli Minister of Energy Karine Elharrar has set about planning the fourth round of tenders for oil and gas licenses. | Photo: Alberto Pezzali/AP/Ritzau Scanpix

BY MATHIAS JULIUS FALKENGAARD, TRANSLATED BY CHRISTOFFER ØSTERGAARD

Israel has identified 25 potential blocks across 1,600 m² for a fourth offshore bidding round. According to the nation’s energy ministry, this is done to ”explore and develop natural resources”, particularly natural gas, which Israel is banking heavily on, writes media Energy Voice.

The blocks expected for the OBR will be located at least 7 kilometers from shore. However, the Israeli government has yet to commit to a time for launching the next tender.

The outcome of the third round has yet to be determined even though the deadline for applications was in September 2020.

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