Middle East Economic Survey


No 11



BG Relinquishes Gal B Block As Talks To Extend License Fail

BG has relinquished the Gal B block offshore northern Israel for technical reasons, MEES learns. The exploration licenses for both Gal A and B lapsed at the end of 2004, but BG as operator held talks with the government over extending the licenses, despite the withdrawal from the consortia of the minority local shareholders earlier that year (MEES, 22 November 2004). Israel...