VOL. XLIV
No. 27
2-July-2001
ISRAEL
Israel National Oil Company Buys Into Shikma Offshore Acreage
Israel National Oil Company (INOC) on 26 June bought a 51% stake in the 160 sq km offshore Shikma concession from Nordan Oil & Gas and took on a commitment to finance the full drilling costs up to $7.65mn, after which the partners will share costs proportionately. According to a statement released to the Tel Aviv Stock Exchange, the partners plan to start drilling in September-October on the...
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