'BP, Azerbaijan's Socar Make Maiden Bid For Israeli Offshore Gas' - Reuters News
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BP and Azerbaijan's national oil company Socar have jointly placed a bid with Israel's NewMed Energy for two offshore gas exploration blocks in Israel. This follows their offer to jointly acquire 50% of NewMed for around $2 billion, potentially giving them entry to Israel's growing energy sector. The bid was for blocks near the Leviathan and Tamar fields, operated by Chevron. Other companies, including Energean and Ratio Energies, also placed bids in the licensing rounds.
July 17, 2023 | 2:16 pm
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BP has jointly placed a bid with Socar and NewMed Energy for offshore gas exploration blocks in Israel, potentially expanding its presence in the Eastern Mediterranean basin.
BP's bid for the Israeli offshore gas blocks, if successful, could provide the company with new opportunities for growth and diversification. This could potentially have a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Chevron, the operator of the Leviathan offshore field, could potentially see increased activity in the region following the successful bids for nearby blocks.
Increased exploration and production activity in the region could potentially benefit Chevron, as it could lead to increased demand for its services and infrastructure. This could have a positive impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Energean, which operates the offshore Karish field in Israel, has also placed a bid for blocks in the licensing rounds, potentially expanding its operations in the region.
Energean's bid for additional blocks, if successful, could expand its operations in the region and potentially have a positive impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70