Murphy Oil Secures 6 Offshore Natural Gas Exploration Licenses in Israel

en.Wedoany.com Reported - On November 9, U.S.-based Murphy Oil Corporation obtained six offshore natural gas exploration licenses granted by the Israeli government, formally entering the Eastern Mediterranean oil and gas exploration market. The licenses cover the Zone G block cluster in Israeli waters, with a total area of approximately 1,700 square kilometers, located about 25 kilometers southwest of the Leviathan natural gas field. A subsidiary of Murphy Oil and Israel's Ratio Energies each hold a 50% exploration interest, with Murphy Oil serving as operator responsible for subsequent exploration work.

The granting of these licenses is part of follow-up adjustments to Israel's fourth offshore oil and gas exploration block tender. The Zone G block cluster was initially awarded in 2023 to a consortium composed of Italy's Eni, Dana Petroleum, and Ratio. Eni subsequently withdrew from the partnership, changing the composition of the original consortium members. Ratio then began advancing the introduction of a new international exploration operator and held consultations with Israel's energy authorities regarding adjustments to the license holders.

On May 17, 2026, Israel's petroleum authority decided to cancel the original consortium's winning qualification due to Eni's withdrawal. On June 18, the regulatory authorities suspended enforcement of the cancellation decision and continued to review the new partnership arrangement. Ratio subsequently brought Murphy Oil into the Zone G exploration project, and the two parties reorganized the license application under a structure of 50% interest each. The formal granting of the licenses this time enables the restructured U.S.-Israeli partnership entity to acquire exploration rights to the block cluster.

According to exploration work arrangements disclosed locally in Israel, the new partners will conduct seismic surveys and target evaluation during the license validity period and assume obligations for subsequent exploration well drilling. The initial license validity period is 3 years, with extensions available upon meeting prescribed conditions, up to a maximum of 7 years. Local reports disclosed that the partners are required to carry out exploration drilling within approximately 36 months, with related work to be organized and advanced by Murphy Oil as operator.

The Zone G block cluster is located in Israel's Mediterranean exclusive economic zone, adjacent to the already-developed Leviathan natural gas field. Israel's energy authorities had previously conducted geological assessments and exploration block delineation for the relevant waters, and the fourth tender round established six independent exploration licenses for Zone G. Following this interest adjustment, Murphy Oil assumes responsibility for block exploration operations, while Ratio continues to participate in the project with a 50% interest. The two parties will jointly advance geological data evaluation and subsequent exploration plans.