Welligence East Med | Bid round and exploration bonanza

June 20, 2023

The offshore East Med region has grown in importance over the past decade due to the large gas discoveries made. While Egypt has a long offshore history dating back to the 1970s, the Noble Energy 14 Tcf Tamar gas discovery offshore Israel surprised the industry and opened the wider region. The company immediately followed with the 22 Tcf Leviathan discovery (also Israel), before finding the 3 Tcf Aphrodite field offshore Cyprus, the first ever discovery in the country. Eni’s 21 Tcf Zohr find was a saviour for Egypt and its gas balance.