VOL. XLVI

No 7

17-February-2003

ISRAEL

Gal B Partners Scale Back Participation Forcing BG To Look For New Shareholder

BG announced after a shareholder meeting on 4 February that it will try to find a new shareholder to enter the offshore Gal B block consortium and allow the drilling of the Tamar-1 exploration well later this year after the withdrawal and reduction in exposure by several of the Israeli shareholders. BG is looking for local or international partners to join the consortium in time...