Israel

Updates about global exploration and production activities and developments.

Fatih Birol, the head of the International Energy Agency, says in an interview that rising geopolitical threats to global oil and natural gas supplies are hurting the appeal of fossil fuels as reliable, safe energy sources.

The energy ministry instructed a shutdown following Hamas missile strikes.

Any conflict in the Middle East can create a geopolitical risk premium, but a more dramatic price impact may not materialize unless the conflict draws in other states and nonstate actors.

Lebanon hopes to join the club of EastMed gas producers as TotalEnergies and its partners spud an appraisal well near Beirut’s maritime border with Israel where gas is already being produced.

The 5-year contract with global ROV equipment and services provider ROVOP supports Energean’s field development within the wider Katlan area adjacent to Israel’s Karish gas field.

The proposed transaction also would be the first step in establishing a joint venture between BP and ADNOC.

QatarEnergy’s acquisition of a 30% interest in E&P blocks offshore Lebanon with TotalEnergies and Eni expands the company’s East Med portfolio while enabling the Emirate to help mediate Beirut’s longstanding political and economic crisis.

A total of 20 new exploration blocks are on offer within the Israeli Economic Zone.

Boosting gas production from Israel’s Tamar offshore gas field, combined with gas from the neighboring Leviathan field, will further the ambitions of both Israel and Egypt in the Eastern Mediterranean.