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Gas Exploration

All articles tagged with #gas exploration

energy2 years ago

International Energy Giants Secure Gas Exploration Licenses in Israel

Israel's Energy Ministry has awarded 12 licences to six companies, including Eni, BP, and Socar, to explore for natural gas off the country's Mediterranean coast. The aim is to create more competition and diversify suppliers. The licences will last for an initial three years, with the option to extend up to seven years, depending on progress. The companies have committed to significant investment in exploration, which could lead to the discovery of new gas reservoirs. Israel hopes to increase its gas reserves and advance plans to export gas to Europe.

via Reuters|
#bp#competition#energy
energy2 years ago

Lebanon Welcomes Offshore Rig for Gas Exploration After Israel Deal

An offshore drilling rig has arrived in Lebanese waters near the border with Israel to begin operations in the coming weeks, following a maritime border agreement between the two countries. Lebanon, facing a severe economic crisis, hopes that potential gas discoveries will help alleviate its financial woes. The drilling results are expected in two to three months. In 2017, Lebanon approved licenses for an international consortium, including TotalEnergies, ENI, and Novatek, to develop offshore oil and gas. Under a US-mediated deal, the disputed waters will be divided, with gas production based on the Lebanese side and compensation for gas extracted from Israel's side.

via The Times of Israel|
#economic-crisis#energy#gas-exploration
energy2 years ago

Lebanon's Block 9: Ready for Oil and Gas Drilling Following Israel Maritime Agreement

Lebanon's Block 9 is set for oil and gas drilling as a drilling rig arrived on Wednesday, marking the start of exploration by a consortium led by France's TotalEnergies. This follows a US-brokered agreement that established a maritime border between Lebanon and Israel, allowing for drilling beyond the border. Lebanon hopes that gas and oil discoveries will help alleviate its severe economic crisis, which has led to a significant devaluation of its currency and rolling blackouts across the country.

via The Jerusalem Post|
#economic-crisis#energy#gas-exploration