British Gas, the UK's largest energy company with over $7
billion in sales in 1998, has made an offer for a National
Infrastructure Ministry tender for oil-and-gas exploration in
a 10,000-km area including all of Israel's territorial waters
in the Mediterranean. It is the first time that a company of
that stature has been willing to invest in prospecting for
energy sources in Israel.
BG is a major participant in the development of the Egyptian
gas market, with investments there totaling close to $80
million. In addition to its Egyptian investment, it has
operations in Argentina, Brazil, Bolivia, India, Indonesia,
Ireland, Italy, Kazakhstan, Malaysia, Pakistan, Philippines,
Qatar, Russia, Singapore, Thailand, Trinidad, Tunisia, and
Northern Ireland.
"BG has extensive experience in drilling and developing oil
and gas -- including in our region -- and it's a very good
sign that a company of BG's stature is serious about
investing in Israeli territory," a leading energy consultant
said.
The ministry has not yet officially announced its choice in
the tender.
