Noble scales back offshore Israel license commitments

Offshore staff

TEL AVIV, Israel – Noble Energy Mediterranean has opted to exit a joint operating agreement for the Ruth C/360 license offshore Israel.

The company cited the country’s current regulatory uncertainty and the risks involved in the exploration license.

The remaining partners have approached the Petroleum Commissioner in the Ministry of National Infrastructures, Energy and Water requesting an extension of the timetable specified in the work plan in an attempt to bring in an alternative operator.

However, the Petroleum Commissioner has granted an extension of the partnership’s Alon D/367 license to Oct. 1, 2015.

04/07/2015

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