Israel grants Murphy Oil licenses near Leviathan gas field
MUR•Murphy Oil was awarded six exploration licenses covering about 1,700 square kilometers offshore Israel, about 25 km southwest of the Leviathan gas field. A Murphy unit will operate the licenses and hold a 50% stake, with Israel-based Ratio Energies holding the other 50%.
1. Offshore license award
Murphy Oil said it had been awarded six exploration licenses in Zone G offshore Israel, marking its entry into the Eastern Mediterranean region. The licenses cover about 1,700 square kilometers, about 25 km southwest of the Leviathan gas field.
2. Equal ownership
A Murphy unit will operate the licenses and hold a 50% stake, while Israel-based Ratio Energies will hold the remaining 50%. The companies will collaborate to further assess the exploration potential of the acreage.
