JERUSALEM, Israel —The Israeli Ministry of Energy is offering 20 exploration blocks under Israel’s 4th Offshore Bid Round (OBR4) for hydrocarbon exploration.
Total acreage offered spans 5,888 sq km across four zones (E, G, H, I) within the Israeli Economic Zone.
Although the Ministry will accept bidding and work programs for entire zones, it plans to issue licenses within the zones for specific blocks, in compliance with the country’s Petroleum Law.
Most of the areas offered have 2D and 3D seismic data coverage while some include undrilled exploration prospects.
The working period offered includes two Drill-or-Drop decision points after three and five years and may be extended up to seven years from the date of award.
The deadline for submission of Letters of Interest (optional) is Feb. 1, 2023, with publication of the updated call for bids and opening of submissions scheduled for April 30, 2023.
Closing date for bids is June 30, 2023, with results of the bid round expected around the end of July.
12.15.2022
