July 31, 2019 / 10:01 AM / 4 months ago

Energean snaps up four new Israeli offshore licenses

LONDON, July 31 (Reuters) -

* Israel-focused Greek oil and gas group Energean was awarded four new Israeli offshore licenses in the so-called Exclusive Economic Zone, the company said on Wednesday.

* “Energean has identified a prospect within Zone D analogous to the prolific Tamar Sand fields (Karish, Tamar, Leviathan etc) offshore Israel,” Energean said, referring to existing discoveries.

* Energean had bid for the licenses with Israeli Opportunity which holds 20% in them.

* Earlier this month, Energean agreed to buy the oil and gas division of Italian energy company Edison for up to $850 million.

* The other consortium to have bid for the Israeli offshore licenses was made up of Cairn Energy, SOCO International and Israel’s Ratio Oil. (Reporting by Shadia Nasralla, editing by Louise Heavens)

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