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Woodside Bids for Offshore Israeli Oil Licenses

By MarEx 2012-10-23 14:43:03

Australia's Woodside Petroleum Ltd. said Monday it's in the early phase of a bidding for licenses offshore of Israel.

In a statement to the Australian Stock Exchange, Woodside said it was bidding for the 349/Rachel and 350/Amit petroleum licenses covering the Leviathan field.

The Leviathan field, discovered in 2010 in Israel's territorial Mediterranean waters, is among the world's largest recent deepwater finds and is estimated to hold about 17 trillion cubic feet of natural gas and a further 600 million barrels of oil.

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Source: http://www.marketwatch.com