Business · Energy & Commodities · 5 hrs ago
Murphy Oil joins Israeli gas exploration area with Ratio Petroleum
Israel granted six natural gas exploration licenses to US company Murphy Oil and Israeli company Ratio Petroleum.
The licenses cover Cluster G, a deep-sea area in the Mediterranean west of the Leviathan gas field.
Murphy will operate the project, and each company will hold a 50% interest.
Murphy is entering the Mediterranean for the first time, while Ratio was part of the group that discovered the Leviathan reservoir in 2010.
The new partnership follows Italian company ENI’s withdrawal from the consortium originally approved for the area; Dana Petroleum can still rejoin.
Israel’s energy ministry says the licenses are part of its fourth competitive bid round.
The partnership could attract investment and support further gas development, according to Ratio’s chief executive.
Separately, Israel’s fifth licensing round is under way, with proposals due by January 27, 2027.
Israel’s Energy Ministry granted six natural gas exploration licenses to Murphy Oil Corporation and Ratio Petroleum.
The companies will each hold a 50 percent working interest, with Murphy Oil serving as operator.
The licenses cover Cluster G, a deep-sea exploration area west of the Leviathan field.
Murphy Oil is entering the Mediterranean for the first time.
The consortium’s composition changed after Italy’s ENI withdrew from the previously approved group.
- Who
- Murphy Oil Corporation and Ratio Petroleum. Murphy Oil will operate the project.
- What
- Israel granted the companies six natural gas exploration licenses in Cluster G.
- When
- The Energy Ministry announced the licenses on Monday, November 9, 2026.
- Where
- Cluster G, west of the Leviathan field in the Mediterranean.
- Why
- Not stated
This story does not have two clearly opposing sides.
Israel’s Energy Ministry announced the original winning consortium for the Cluster G licenses, which included ENI, Dana Petroleum UK and Ratio Petroleum.
ENI withdrew from the originally approved group, and the Petroleum Council recommended changing the winning consortium’s composition.
The Energy Ministry announced that Murphy Oil and Ratio Petroleum had been granted six exploration licenses.
- License count
- 6 natural gas exploration licenses
- Working interests
- 50 percent each for Murphy Oil and Ratio Petroleum
- Operator
- Murphy Oil Corporation
- Exploration area
- Cluster G, west of the Leviathan field
- Previous consortium
- ENI, Dana Petroleum UK and Ratio Petroleum were named in October 2023
What people are saying
Natural gas is a strategic asset that strengthens our economic and diplomatic standing globally in general and in the Middle East in particular,
the participation of international companies, including Murphy Oil Corporation, had the potential to attract further investment, strengthen competition in the natural gas market, and create new opportunities to develop additional energy resources.