Israel Takes Bids for Offshore Exploration

Israel said on Wednesday it received bids to explore for oil and gas in its economic waters from Greece's Energean and a consortium of Indian firms including ONGC Videsh, Bharat PetroResources , Indian Oil Corp and Oil India.

 

Israel hoped it would draw 2-3 foreign firms to come drill in 24 new offshore blocks in its latest bidding round that opened a year ago.

 

Israel's Energy Ministry said it would spend the coming weeks examining each bidder's offer and work plan before making a final decision. It said it will hold another bidding round next year.


(Reporting by Ari Rabinovitch)