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E & P News

2018

Mar 2018: Shell has given up its 55% stake in the Gaza Marine gas field off the Gaza Strip after failing to find a buyer for the field it took over in its acquisition of BG in 2016. Plans to develop the field, estimated to hold over 35 bcm of gas, were put off several times over the past decade. The Palestine Investment Fund, a sovereign wealth fund, is now the only stakeholder.

2017

No significant news in 2017.

2016

No significant news in 2016.

2015

No significant news in 2015.

2014

Mar 2014: The Palestinian Authority announced plans to explore for oil in the northern West Bank. Israel, which wields overall control of the area, has given no indication it has agreed to the plan. Israeli oil company, Givot Olam, has begun pumping oil from a small field  in Israel near the boundary, but with vertical drills, all on the Israeli side.

2013

No significant news in 2013.

2012

Sep 2012: Israel held talks with the Palestinian Authority over development of the Gaza Marine gas field off the Gaza Strip. The Authority granted exploration rights in 1999 to BG who drilled 2 wells in 2000 and estimated gas resources at 28 bcm. In 2007 it ended negotiations on sale of gas to Israel. Israel declines to engage with the Islamist Hamas rulers of the Gaza Strip. The Palestinian Authority fully controls only the West Bank.

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