(WO) – Murphy Oil Corp. has won six exploration licenses in Zone G offshore Israel, its first move into the Eastern Mediterranean. Zone G covers about 1,700 km² (656 mi²) and lies about 25 km (16 mi) southwest of the Leviathan gas field.
A Murphy subsidiary will operate the licenses with a 50% interest, and Ratio Energies LP will hold the remaining 50%. The two companies will now work together to further evaluate the exploration potential of the area.
The award continues an expansion of Murphy’s international exploration portfolio. The company recently signed production sharing contracts for two blocks offshore Mauritania covering about 3.1 million acres, and earlier this year it made a light oil discovery at Bubale-1X offshore Côte d’Ivoire.
Pictured: The Leviathan gas field offshore Israel., operated by Chevron.
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