Houston-headquartered oil and gas company Murphy Oil Corporation has expanded its portfolio by making its entrance into the Eastern Mediterranean, thanks to new offshore exploration licenses in Israel's Zone G.
Murphy Oil Corporation has announced its entry into the Eastern Mediterranean following the award of six exploration licenses in Zone G by the government of Israel.
Spanning approximately 1,700 square kilometers offshore Israel, Zone G is located around 25 kilometers southwest of the Leviathan gas field.
Partnering with Ratio Energies on a 50-50 joint venture where Murphy will act as operator, the company is poised to embark on a hydrocarbon quest in one of the region's energy frontiers.
The company underlined: “The license awards expand Murphy's international exploration portfolio and provide a new opportunity in the Eastern Mediterranean. Murphy and Ratio Energies will now work together to further evaluate the exploration potential of Zone G.”
These license awards come shortly after the firm confirmed offshore appraisal and exploration successes in Côte d'Ivoire and Vietnam, alongside project start-ups in Vietnamese and U.S. Gulf waters.