Murphy Oil Corporation has secured six offshore exploration licenses in Israel's Zone G, marking the company's entry into the Eastern Mediterranean.
The licenses, awarded by the Government of Israel, cover approximately 1,700 square kilometers offshore Israel, about 25 kilometers southwest of the Leviathan gas field.
A subsidiary of Murphy Oil will hold a 50% interest in the licenses, with Ratio Energies LP holding the remaining 50%. Murphy will serve as operator.
The awards expand Murphy Oil's international exploration portfolio, with the company and Ratio Energies planning to further evaluate the exploration potential of Zone G.
Murphy Oil is an independent oil and natural gas company with an onshore and offshore portfolio spanning multiple basins.