The Israeli Ministry of Energy and Infrastructure has awarded 12 licenses to six companies, including four new entrants to Israel, as part of the 4th Offshore Bid Round (OBR4) for Natural Gas Exploration in Israel's Exclusive Economic Zone (EEZ). The license awards consist of two groups. The first group, led by Italy's Eni in collaboration with Dana Petroleum and Israel's Ratio Energies, will conduct exploration in an area to the west of the substantial Leviathan gas field. The second group comprises Azerbaijan's national oil company Socar, along with BP and Israel's NewMed, and they will explore the region north of the Leviathan field, according to the Ministry's announcement. The licensing period is initially three years, during which the license holders will conduct exploration work. Extensions are possible based on drilling commitments and work programs, with a maximum license period of seven years.
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